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Agnafit Bidco extends the acceptance period for the Sobi offer

Sobi Research

Following receipt of all regulatory approvals, Agnafit Bidco extends the acceptance period for the public offer to the shareholders of Sobi and announces its intention not to increase the price of SEK 235 per share in the Offer.

On 2 September 2021, Advent International Corporation1 and Aurora Investment Pte Ltd2, an affiliate of GIC Pte Ltd, announced through Agnafit Bidco AB3 , a recommended public offer to the shareholders of Swedish Orphan Biovitrum (Sobi) to tender all shares in Sobi to Agnafit Bidco for SEK 235 per share. An offer document was made public on 21 September 2021 and a supplement to the offer document was made public on 13 October 2021.

Agnafit Bidco announced on 20 October 2021 that Agnafit Bidco had received all necessary regulatory approvals from authorities, including from competition authorities.

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“Given the recent announcement regarding receipt of all necessary regulatory clearances, Agnafit Bidco has decided to extend the acceptance period to 4 November, to allow extended time for all remaining shareholders to tender their shares. We remain committed to our offer price of SEK 235, which we believe is very attractive. We would also like to emphasize that the offer price is best and final, which means that we cannot increase the consideration in the Offer according to applicable rules. We are encouraged by the support from Sobi’s board of directors and main shareholders, confirming our belief that Sobi’s continued transformation journey is best pursued in a private environment. Advent and Aurora, as longterm committed owners, fully stand behind Sobi’s important mission to develop and deliver innovative therapies and services to improve life for people living with rare diseases,” says Tom Allen, Managing Director of Advent International.

Extend the acceptance period until 4 November 2021

In order to allow the remaining shareholders in Sobi to accept the Offer, Agnafit Bidco has resolved to extend the acceptance period until 4 November 2021. Settlement for shares tendered in the Offer as well as for shares tendered during the extended acceptance period is expected to be initiated on or around 12 November 2021. Agnafit Bidco reserves the right to further extend the acceptance period for the Offer as well as to further postpone the settlement date. Agnafit Bidco has further resolved to waive the right to increase the price of SEK 235 per share in the Offer.

Agnafit Bidco will continue to strive towards an ownership in Sobi of more than 90 percent and thereafter initiate compulsory redemption of the remaining shares in Sobi as well as promote a de-listing of Sobi’s shares from Nasdaq Stockholm, it states.

Photo: Sobi

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