News Archive
06.March 2014
Algeta sold to Bayer for USD 2.9 billion

Oslo, Norway, March 6th 2014 - Algeta ASA (OSE: Algeta) annonunced today that Bayer has completed its cash offer to acquire Algeta for NOK 362 per share, or approximately USD 2.9 billion in total. Bayer holds 98.2 % of Algeta shares after closing. Compulsory acquisition process planned in the coming days.

The Bayer Group has completed the voluntary takeover offer for Norwegian pharmaceutical company Algeta ASA, Oslo. 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 voluntary takeover offer. In addition, Bayer intends to file for delisting of the Algeta shares from the Oslo Stock Exchange (OSE).

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