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4 years ago
CORRECTED-Bayer raises bid for Norway cancer drug firm Algeta to $2.9 bln
December 19, 2013 / 7:31 AM / 4 years ago

CORRECTED-Bayer raises bid for Norway cancer drug firm Algeta to $2.9 bln

(Corrects 2nd par to show Bayer's previous bid for Algeta was NOK 336 per share, not NOK 335)

OSLO, Dec 19 (Reuters) - Pharmaceutical firm Bayer raised its bid for Norway's Algeta, its partner for a new prostate cancer treatment, by 7.7 percent now valuing the firm at $2.9 billion.

The 362-crown-per-share cash offer, up from a preliminary offer of 336 crowns, is 2.4 percent more than Algeta's share price value at the close on Wednesday. The board of Algeta said it unanimously endorsed the bid. (Reporting by Gwladys Fouche; editing by Terje Solsvik and Keiron henderson)

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