Poor Swiss biotechnology group Serono announced today that it has taken itself off the shelf after ending ongoing discussions with potential suitors over the sale of the major stake in the company.
The firm's controlling shareholder, the Bertarelli family, which owns over 60% of the business, has indicated that it made the decision after a spate of disappointing offers that did not adequately reflect Serono's future prospects.
As a result, the company has changed track and is now keeping an eye out for any purchases that will help build its business. "Moving forward, Serono will invest in its existing businesses and will actively pursue opportunities for growth through acquisitions," said Ernesto Bertarelli, Serono's Chief Executive Officer.
Insiders' view: a bit of a climb down..... to say the least!
Source: PharmaTimes
No comments:
Post a Comment