The Bayer Group has completed the voluntary takeover offer for Norwegian pharmaceutical company Algeta.
According to a statement from Bayer, the payment of the offer price has been made to Algeta’s shareholders who accepted the takeover offer and, at the same time, the 43,131,641 tendered shares have been transferred to Bayer. As a result, Bayer now holds 98.2 % of the shares and voting rights in Algeta.
Bayer intends to initiate a compulsory acquisition process in order to acquire the remaining shares of minority shareholders in Algeta in the coming days. Bayer is offering NOK 362 per share, equal to the offer price in Bayer’s
In the end of November last year Algeta confirmed that Bayer had made an offer and in December the deal was a fact.