Consortium led by Nordic Capital, Permira to buy vaccine maker Bavarian Nordic
The offer marks a premium of 21% compared to the stock's closing price of 192.50 crowns on Nasdaq Copenhagen last Wednesday and values the transaction equity at about 19 billion crowns ($2.98 billion), Bavarian Nordic said, recommending its investors to accept the offer.
Shares of the company, which specializes in vaccines for mpox, smallpox and other infectious diseases, jumped as much as 24% on Thursday when it confirmed it was in talks with Nordic Capital and Permira over a potential bid.
The deal will be subject to customary conditions, including that Innosera needs to own or have valid acceptances for more than 90% of Bavarian Nordic's voting rights and shares at the end of the offer period, the group said.
Upon completion of the offer, the consortium intends to delist Bavarian Nordic's shares from trading in Copenhagen.
($1 = 6.3711 Danish crowns)
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