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Bayer launches takeover of Norway pharma firm Algeta

5:54 AM MST | January 24, 2014

Bayer says it has commenced the previously announced public takeover offer for all of the shares of pharmaceutical company Algeta (Oslo) for 362 Norwegian kroner/share ($59.48) in cash. The offer values the total share capital of Algeta at about NK17.6 billion. Bayer raised its offer for Algeta after initially offering to pay NK336/share (CW, Dec. 2/9, 2013, p. 5). Bayer issued the takeover offer on the basis of an agreement signed with Algeta on 19 December 2013, based on the improved offer. The offer period started on 20 January and is slated to expire on 24...

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