* 92.17 pct of Algeta shares tendered -preliminary figs
* Bayer says extends offer period to be on safe side
* Reiterates expects deal to close in Q1
OSLO/FRANKFURT, Feb 24 German drug firm Bayer
has clinched a $2.9 billion deal to take over
Norwegian cancer drug maker Algeta after being
tendered 92.17 percent of the shares in a cash offer, the
companies said on Monday.
Bayer extended the acceptance deadline by two days to
Wednesday, Feb. 26, to eliminate any remaining uncertainty.
"The acceptance ratio is based on preliminary figures and
may be subject to change", a Bayer spokesman said.
Bayer reiterated it expected the deal to close in the first
Bayer bid for Algeta late last year to gain outright control
over novel prostate cancer drug Xofigo which the two have
developed jointly since 2009 and started selling in the United
States in 2013. The drug also won European approval in November.
In December, Bayer won backing from the target's board for
an increased $2.9 billion offer for the Norwegian company, which
is contingent on Bayer being tendered 90 percent of Algeta's