Algeta shareholder Alfred Berg says Bayer likely sole bidder

OSLO Thu Dec 19, 2013 3:08am EST

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OSLO Dec 19 (Reuters) - It's unlikely that anyone will make a competing offer for Norwegian cancer drug firm Algeta after Germany's Bayer raised its bid by 7.7 percent on Thursday, Algeta shareholder Alfred Berg Capital Management told Reuters.

The asset manager holds 0.4 percent of the company's shares.

"It looks like the board has done its best to get an increased bid. So this won't be the hardest decision we've had to make," fund manager Leif Eriksroed said.

"The offer is in the ball park. It's recommended by the board and there are no other bids," he added.

Alfred Berg will make a formal decision on whether to sell its stake at the current offer price at a later stage. (Reporting by Joachim Dagenborg, writing by Terje Solsvik, editing by Gwladys Fouche)

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