Generics specialists Actavis and Barr Pharmaceuticals are battling to take control of the Croatian generics firm Pliva.
Each company has said it was willing to pay approximately US$2.3 billion (€1.8 billion) in cash for Pliva – roughly twice the Croatian company’s turnover last year.
Actavis had offered CrK723 (€101) per share plus a dividend of CrK12 per share, while Barr was proposing a payment of CrK743 per share plus a dividend of CrK12 per share.
On 27 June, Pliva endorsed a US$2.2 billion takeover offer from US firm Barr, which sells the emergency contraceptive Plan B in its domestic market. Two days later, Icelandic company Actavis raised its offer to US$2.3 billion and Barr then matched this figure.
Pliva advised its shareholders to take no action until it had spoken to Actavis, which had still to give formal notification of its intention to table an offer.
Hat tip: OTC Bulletin
No comments:
Post a Comment