On October 26, 2016 Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) reported that it has made an offer to acquire Cyprotex PLC (AIM Listing: CRX-GB), a specialist pre-clinical contract research organisation in ADME-Tox and DMPK headquartered in UK (Press release, Evotec, OCT 26, 2016, View Source [SID1234516093]). The proposed acquisition, which has been unanimously recommended by the board of Cyprotex, is expected to close before year-end 2016. Schedule your 30 min Free 1stOncology Demo! Evotec will pay approximately £ 55.36 m (EUR 62.00 m; £/EUR exchange rate of 1.12) in cash for the acquisition of all 26.1 million issued and to be issued Cyprotex shares and the funding of all existing company debt. The offer of 1.60 £ per Cyprotex share reflects a 9.4% premium to the VWAP of the past 30 trading days at AIM. The offer is intended to be implemented by a scheme of arrangement regulated by the UK takeover code, with already >50% shares secured irrevocable.
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!