Seeking Alpha

Bayer bids $2.41B for prostate-cancer drug partner

Bayer (BAYZF) has offered 14.76B Norwegian kroner ($2.41B) to acquire partner Algeta (ALGZF), with the bid of 336 kroner a share representing a 27% premium to the latter's last closing price.

Earlier this month, Bayer and Algeta received EU marketing approval for prostate-cancer treatment Xofigo. (PR)

This was corrected on 11/26/2013 at 06:51 AM.
Comments (2)
  • pharmaman
    , contributor
    Comments (23) | Send Message
    Company is worth substantially more in the longer term -- perhaps 50% higher even within 6 months.
    26 Nov 2013, 08:40 AM Reply Like
  • suhaas
    , contributor
    Comments (112) | Send Message
    11 Dec 2013, 08:09 AM Reply Like
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