Danish drug developer Novo Nordisk said on Monday it had started talks to buy a controlling stake in French medical device designer Biocorp .
The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a production plant in Chartres, north-central France, April 21, 2016. REUTERS/Guillaume Souvant/Pool
June 5 - Danish drug developer Novo Nordisk said on Monday it had started talks to buy a controlling stake in French medical device designer BiocorpThe Danish company said it had entered into exclusive negotiations with Bio Jag, Biocorp's main shareholder, for the purchase of its over 45% stake in the French company at a price of 35.0 euros per share in cash.
The price represents a premium of 19.5% over Biocorp's closing market price on June 2 and the transaction values Biocorp at about 154 million euros, the companies said. Certain minority shareholders, representing 19.0% of the share capital of Biocorp, will also transfer shares to Novo Nordisk and the transaction will be followed by a squeeze-out procedure.
The block purchase should take place during the third quarter of 2023 and the filing of the subsequent offer should take place in September 2023, Novo said.
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