Novartis announces that it has met all the conditions of the tender offer to acquire MorphoSys for E68 per share in cash.

Novartis BidCo, a Novartis subsidiary, today announced the results of its voluntary tender offer for MorphoSysy shares, including all shares represented by MorphoSys American Depositary Shares (ADSs).

At the expiry of the acceptance period at midnight on May 13, 2024, the Offer has been accepted by approximately 79.6% of the total issued share capital of MorphoSys.

All the conditions of the Offer, including the minimum acceptance threshold of 65%, were satisfied at the end of the acceptance period. Settlement-delivery of the shares tendered during the initial acceptance period is scheduled for May 23, 2024.

The additional legal acceptance period is scheduled to end at midnight on May 30, 2024. During this period, shareholders who have not tendered their MorphoSys shares, including shares represented by MorphoSys ADSs, may still accept the Offer.

The transaction strengthens the Novartis oncology pipeline, adding pelabresib, a late-stage BET inhibitor for myelofibrosis, and tulmimetostat, an early-stage investigational dual inhibitor of EZH2 and EZH1 for solid tumors or lymphoma.

Copyright (c) 2024 CercleFinance.com. All rights reserved.