Companies / Switzerland
Novartis To Buy Speedel For US$880mn
July 2008 | Company News AlertSwiss drugmaker Novartis looks set to take over fellow domestic player and long-standing research partner Speedel in a deal worth a potential US$880mn. On July 10 2008 Novartis, which already holds a 9.7% stake in the company, announced it had agreed to acquire a further 51.7% from five major shareholders. The firm will now launch a mandatory public tender offer for the remaining shares. This offer will match the price paid to the major stakeholders, which was a 94% premium on the closing share
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