Creat seeks Biotest for US$1.3b
CHINESE investor Creat Group Corp has offered to buy German blood plasma product maker Biotest for 1.2 billion euros (US$1.3 billion) including debt, following its purchase last year of British peer Bio Products Laboratory.
“The Board of Management and Supervisory Board welcome the discussions,” Biotest said, adding that the suitor would back an ongoing investment drive to more than double output capacity by 2022.
Biotest said Creat had proposed a purchase price of 28.50 euros per ordinary share, a 43 percent premium over Wednesday’s closing price.
But owners of preference shares without voting rights would be offered only 19 euros apiece, a slight discount to Wednesday’s 19.02-euro close.
Biotest, whose products are used to treat blood coagulation disorders, auto-immune diseases and immune deficiencies, said the potential deal is still subject to final negotiations and a deal with Biotest AG’s majority shareholder, OGEL GmbH.
Due to the talks, Biotest said it postponed its annual shareholder meeting, initially planned for May 10, to a later date, which was yet to be announced.
OGEL, the investment vehicle of late company founder Hans Schleussner’s family, holds slightly more than half of Biotest’s ordinary shares with voting rights.
Biotest’s share capital is split evenly between ordinary and preference shares, with the latter share class being completely in free-float ownership.
Creat agreed in May last year to acquire British biotech firm Bio Products Laboratory from Bain Capital for 820 million pounds (US$1.02 billion).
Biotest, which is being advised by Credit Suisse, suffered a setback last week when its partner Immunogen decided to cease work with Biotest on bringing an experimental blood cancer treatment to the US market.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.