Monday, November 25, 2024

Bidco ups offer for Clinigen

Terms have been agreed for an increased and final recommended all-cash offer for Clinigen by Triley Bidco Limited (Bidco).

Bidco – in its seventh proposal – will acquire the entire issued and to be issued ordinary share capital of the Burton pharma firm at a price of 925 pence (up from 883 pence) in cash per Clinigen share.

Bidco says that the increased final offer will not be increased further, except that Bidco reserves the right to revise the financial terms of the increased final offer if there is an announcement of an offer or a possible offer for Clinigen by a third party offeror or a potential offeror.

The increased final offer values the entire issued and to be issued ordinary share capital of Clinigen at approximately £1.3 billion on a fully diluted basis.

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