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People & Business :: M&A

Bayer bids to acquire Norwegian pharma company Algeta

1:29 PM MST | November 26, 2013 | Natasha Alperowicz

The board of directors of Algeta (Oslo) today announced that it has received a preliminary acquisition proposal from Bayer. Bayer has offered to pay 336 Norwegian Krone per Algeta share, valuing the bid at $2.4 billion. Algeta is Bayer’s partner in a new prostate cancer treatment. Algeta says discussions are at an early stage and further announcements may be made in due course.   Bayer and Algeta are partners in Xofigo, which was approved by the US FDA on 15 May 2013 for the treatment of patients with castration-resistant prostate cancer, symptomatic...

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