Crucell to acquire Berna Biotec for $450M
Netherlands-headquartered biotechnology firm Crucell NV has announced plans to acquire established Swiss vaccines company Berna Biotech AG in an all-share deal valuing the latter at 15.72 Swiss francs a share, or 591.0 million francs ($450.5 million) in total. The offer, which has the backing of Berna's board of directors, is at a premium of 27% to the Swiss firm's closing price ahead of the announcement on December 1.
The combined company will continue under the Crucell name and be domiciled in the Netherlands. In addition to its Euronext and Nasdaq listing, the Crucell-Berna entity will also be traded on the SWX Swiss Exchange.
Crucell said that this transaction will create "the leading independent vaccine player," adding to its own development of vaccines and antibodies for the treatment and prevention of infectious diseases such Ebola, influenza, malaria, West Nile virus and rabies.
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