MorphoSys' Management Board And Supervisory Board Recommend Shareholders Accept Public Takeover Offer By Novartis For €68.00 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
MorphoSys AG's Management and Supervisory Boards recommend shareholders accept Novartis' takeover offer of €68.00 per share, totaling €2.7 billion. This offer represents a significant premium over recent average prices, with an acceptance period ending on May 13, 2024. The acquisition aims to enhance MorphoSys' oncology pipeline and provide substantial value to shareholders.
April 11, 2024 | 1:09 pm
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MorphoSys AG is recommended by its boards to accept a lucrative takeover offer from Novartis, valuing the company at €2.7 billion and offering a substantial premium to shareholders.
The recommendation by MorphoSys' Management and Supervisory Boards for shareholders to accept Novartis' takeover offer at a significant premium is likely to be viewed positively by the market. This premium over the recent average prices indicates a strong valuation of MorphoSys, potentially leading to a positive short-term impact on its stock price as shareholders and investors react to the news.
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IMPORTANCE 100
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