Novo Nordisk In Talks To Acquire Controlling Stake In BIOCORP

(RTTNews) - Healthcare company Novo Nordisk (NVO) said that it has entered into exclusive negotiations with BIO JAG, BIOCORP's main shareholder, for the purchase of its entire stake in BIOCORP, representing 45.3% of its share capital and 62.2% of its theoretical voting rights, at a price of 35.00 euros per share in cash.

The price of the offer values 100% of BIOCORP's share capital and voting rights representing a total equity value of about 154.4 million euros on a fully diluted basis. The price of the offer represents a premium of 19.5% over BIOCORP's closing market price on 2 June 2023.

The proposed transaction would be followed by a mandatory simplified tender offer launched by Novo Nordisk on all remaining outstanding BIOCORP securities and, if the legal requirements are met, a mandatory squeeze-out of the remaining shareholders and delisting of BIOCORP.

BIOCORP is a French company specialized in the design, development and manufacturing of delivery systems and innovative medical devices, including Mallya, a Bluetooth enabled smart add-on device for pen injectors.