CSL Eyes Close of Vifor Pharma Acquisition.
MANews-(C)2009-2022
Australian biotechnology company CSL Ltd. (ASX: CSL) (OTC: CSLLY) has now received all necessary regulatory clearances for the acquisition of Swiss specialty pharmaceutical company Vifor Pharma Ltd (SIX: VIFN; ISIN: CH0364749348) announced on 14 December 2021, the company said.
CSL has set the settlement date of the public tender offer for Vifor for 9 August 2022.
If the offer conditions that remain in effect until the settlement remain fulfilled until that date, shareholders who accepted the offer will receive the offer price for each share tendered into the offer on the settlement date, subject to the terms of the offer.
CSL anticipates that it will hold more than 97% of Vifor shares upon the settlement of the offer and intends to have Vifor apply for the delisting of the Vifor Shares after the settlement.
Also, CSL has filed an action to cancel the remaining publicly held Vifor shares in accordance with Swiss takeover rules. The proceedings are currently suspended and will be resumed after the Settlement. Planning for the integration of Vifor is well advanced, it said.
CSL originally agreed to acquire Vifor Pharma for an aggregate equity value for Vifor Pharma of USD 11.7bn (CHF 10.9bn).
CSL has offered to acquire Vifor Pharma in an all-cash tender offer of USD 179.25 (CHF 167) per share, payable in US dollars.
The offer assumes a dividend of CHF 2 expected to be declared at the AGM of 26 April, consistent with past practice.
The tender offer represents an implied premium of approximately 61% to the unaffected closing price of Vifor Pharma on 1 December 2021 and a 47% premium to Vifor Pharma's unaffected...
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