Novartis: about to file takeover bid for MorphoSys

(CercleFinance.com) - MorphoSys announced on Thursday that Novartis plans to file a tender offer for the shares it does not already hold, a procedure that will be followed by a squeeze-out.


The Swiss biopharmaceutical giant currently controls over 91% of the German biotech company's capital following the tender offer at E68 per share it announced in April and closed at the end of May.

With this majority shareholding, Novartis is now the controlling shareholder of MorphoSys, making the latter one of its subsidiaries.

The delisting date has not yet been determined, but the operation is expected to take place on the Frankfurt Stock Exchange as well as on Nasdaq, MorphoSys' second listing, in Q3, MorphoSys says in a financial notice.


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