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Algeta ASA's Board unanimously recommends voluntary cash offer from Bayer AG to acquire the entire issued share capital of Algeta

Thursday, 19 Dec 2013 02:07am EST 

Algeta ASA:Says an agreement with the Bayer AG (Bayer) whereby Bayer, through Aviator Acquisition AS, a wholly-owned subsidiary of Bayer Nordic SE, will launch a voluntary cash offer (the Offer) to acquire the entire issued share capital of Algeta for 362 norwegian krone per share in cash.Says the offer values the total share capital of Algeta at about 17.6 bln norwegian krone ($2.9 bln) on a fully diluted basis.Says the board of directors of Algeta has unanimously decided to recommend that its shareholders accept the Offer.Says under the terms of the offer, Aviator Acquisition AS will make a voluntary offer to acquire the entire issued share capital of Algeta for 362 per share norwegian krone in cash.Says Bayer will finance the transaction with available cash and new debt.Says Bayer expects to close the transaction during the Q1 2014.Says Goldman Sachs International is acting as exclusive financial advisor to Algeta. Skadden, Arps, Slate, Meagher & Flom LLP and Wikborg, Rein & Co. DA are acting as legal advisors to Algeta.Says Centerview Partners provided an additional fairness opinion in support of the Board of Directors' recommendation of the Offer. 

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15 Aug 2014