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Bayer extends offer period for acquisition of Norwegian pharma firm Algeta

2:51 AM MST | February 24, 2014 | Deepti Ramesh

Bayer says it is extending the offer period for the previously announced voluntary takeover offer for Norwegian pharmaceutical company Algeta (Oslo) by two days, to 26 February. All other terms and conditions of the offer remain unchanged. Bayer is offering 362 Norwegian kroner ($59.7) in cash per Algeta share. The board of directors of Algeta has unanimously recommended that the company's stockholders accept Bayer's offer. Bayer, as of 24 February, had received acceptances and preacceptances of the offer for about 40,485,490 shares, representing about 92.17% of...

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