Biotage Offered To Be Acquired By RWK BidCo For About SEK 11.6 Bln

(RTTNews) - Biotage AB (BITGF.PK), a life sciences company, Tuesday said RWK BidCo AB, a newly formed company indirectly wholly owned by KKR Funds, has proposed to acquire Biotage for about SEK 11.607 billion.

The offer price of SEK 145 per share is a premium of 60.1% on Biotage's closing price of SEK 90.55 on April 17.

The company's Board has recommended that the shareholders of Biotage accept the offer from RWK BidCo.

If Biotage's board approves the proposed dividend of SEK 1.65 per share at its AGM on April 24, RWK BidCo will reduce the offered consideration by SEK 1.65 per share, the company said in a statement

Carnegie Fonder, SEB Asset Management and Coeli with 19.03 stake in Biotage, have expressed their intention to accept the offer. Gamma Biosciences, the largest shareholder of Biotage with 16.98 percent of the total number of shares in Biotage is also willing to transfer its stake to RWK BidCo.

Lazard is acting as financial advisor and Advokatfirman Vinge is serving as legal advisor to Biotage.