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Bloomberg
Private equity firm EQT AB has made an offer to take over Swedish pharmaceuticals company Recipharm AB in a deal valued at about $2.1 billion.
EQT is offering shareholders 220 kronor in cash per share, compared to Friday’s closing price of 179 kronor. It’s also proposing to give holders of Recipharm’s senior unsecured convertible bonds 1.43 billion kronor in cash per 1 million kronor in aggregate principal of the convertible bonds. The Stockholm-based private equity firm already secured ownership of about 25.7% of the shares.
and 74.3% of the votes in Recipharm through its chairman, Lars Backsell, and Thomas Eldered, its chief executive. The deal values Recipharm at 17.9 billion kronor, or about $2.1 billion.
Recipharm, which has seen its share price rise about 36% this year, specializes in the contract development and manufacture of pharmaceuticals. The offer is conditional on getting acceptance from shareholder representing more than 90% of the stock.