Bloomberg News

Santen Pharmaceutical to Acquire France’s Novagali

September 28, 2011

(Corrects to show company’s plan for acquisition procedures in third paragraph.)

Sept. 28 (Bloomberg) -- Santen Pharmaceutical Co. plans to acquire France’s Novagali Pharma SA for as much as 102 million euros ($139 million).

The Japanese drugmaker agreed to acquire 50.55 percent of Novagali from its existing shareholders, according to a statement to the Tokyo Stock Exchange today. Santen will also launch a tender offer of 6.15 euros for each Novagali share for the rest of the holdings.

If Santen acquires at least 95 percent of Novagali, the drugmaker will increase the amount paid to 6.25 euros a share, the statement said.

--Editor:

To contact the reporter on this story: Go Onomitsu in Tokyo at gonomitsu@bloomberg.net

To contact the editor responsible for this story: Gearoid Reidy at greidy1@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus