Takeda Pharma Says U.S. Offer For Remaining Stake In TiGenix To Expire On May 31

(RTTNews) - Japan's Takeda Pharmaceutical (TKPHF.PK, TKPYY.PK) announced Wednesday that the initial acceptance period for its tender offer, for the remaining shares of TiGenix NV (TIG) which it does not own, started on April 30. The U.S. Offer is scheduled to expire at 10:00 a.m., New York City time, on May 31.

Takeda is in deal to buy all outstanding ordinary shares, warrants and American Depositary Shares of TiGenix that are not yet owned by Takeda and its affiliates, in two separate, but concurrent and related offers in Belgium and in the United States.

The offer is at a price of 1.78 euros per Ordinary Share in cash, 35.60 euros per ADS in cash, payable in United States Dollars, and an amount per Warrant in cash depending on the strike price and maturity of such Warrant.

Belgium -based TiGenix is an advanced biopharmaceutical company developing novel therapies for serious medical conditions by exploiting the anti-inflammatory properties of allogeneic, or donor-derived, stem cells.

It was in early January that Takeda Pharma announced its intention to acquire the biopharmaceutical company in a deal valued at approximately 520 million euros.