Samsung says Biogen deal talks report is not true

Dec. 29, 2021 9:51 PM ETBiogen Inc. (BIIB), SSNLFBy: Joshua Fineman, SA News Editor20 Comments

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  • Samsung Biologics (OTC:SSNLF) said a report that it's in talks to purchase Biogen (NASDAQ:BIIB) is not true.
  • The earlier Korea Economic Daily report is not true, according to a Bloomberg report, which cited a regulatory filing, which didn't provide any more details.
  • Biogen (BIIB) shares gained 9.5% after The Korea Economic Daily reported that the Samsung Group (OTC:SSNLF) in South Korea was in talks to buy the U.S.-based biotech.
  • According to investment banking sources, Biogen (BIIB) had approached Samsung to sell its shares, potentially valuing the Cambridge, Massachusetts-based company at over 50 trillion won ($42B), including a control premium.
  • Earlier, Biogen-Samsung deal poses valuation difficulties - Jefferies.

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