MILAN, March 17 (Reuters) - Japan’s AGC has launched a takeover bid on all the shares of Italian biotech company Molmed in a deal worth up to 240 million euros ($267 million), AGC said in a statement on Tuesday.
AGC is offering 0.518 euros per Molmed share, the equivalent of a premium of 110.3%.
AGC said Fininvest, the holding company of the family of former Prime Minister Silvio Berlusconi, had agreed to tender its stake in Molmed.
Fininvest owns around 23% of Molmed shares.
The aim of the bid is to delist Molmed, AGC said.
$1 = 0.8973 euros Reporting by Stephen Jewkes; editing by Agnieszka Flak