Samsung Biologics Co LtdSamsung Biologics is acquiring PolyPeptide in a $1.81B cash deal, expanding into peptide therapeutics.
Samsung Biologics is set to acquire PolyPeptide Group through an all-cash public tender offer valued at 1.46 billion Swiss francs, or 1.81 billion dollars. The proposed offer is set at 44.31 Swiss francs per share for 100 percent of PolyPeptide's fully diluted share capital, excluding treasury shares. Completion is anticipated towards the end of this year, contingent on a minimum acceptance threshold of nearly 67 percent, regulatory approvals, and other conditions under Swiss takeover law. PolyPeptide's board unanimously recommends shareholders accept the offer, and the largest shareholder, holding around 55.65 percent of outstanding shares, has provided an irrevocable undertaking to tender its shares. Samsung Biologics aims to expand beyond antibodies and antibody-drug conjugates into peptide-based therapeutics, leveraging PolyPeptide's facilities in Belgium, France, India, Sweden, and the US.
Samsung Biologics Co LtdSamsung Biologics is acquiring PolyPeptide in a $1.81B cash deal, expanding into peptide therapeutics.
PolyPeptide Group AGPolyPeptide is being acquired at a premium of 44.31 CHF per share, with board and major shareholder support.