Novartis to Squeeze Out MorphoSys Minority Shareholders, Initiate Delisting
Portfolio Pulse from Benzinga Newsdesk
Novartis has announced plans to delist MorphoSys from the Frankfurt Stock Exchange and NASDAQ following its acquisition. Novartis will initiate a squeeze-out of MorphoSys' minority shareholders and merge MorphoSys into Novartis. The delisting and merger are expected to be completed by Q3 2024.
June 20, 2024 | 7:13 am
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MorphoSys will be delisted from the Frankfurt Stock Exchange and NASDAQ following its acquisition by Novartis. Novartis will initiate a squeeze-out of MorphoSys' minority shareholders and merge MorphoSys into Novartis.
The delisting and squeeze-out will likely lead to a decrease in liquidity and trading volume for MorphoSys shares, negatively impacting short-term stock price. The merger into Novartis will result in MorphoSys shares no longer being publicly traded.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Novartis is set to delist MorphoSys from the Frankfurt Stock Exchange and NASDAQ, initiate a squeeze-out of MorphoSys' minority shareholders, and merge MorphoSys into Novartis by Q3 2024.
The successful acquisition and integration of MorphoSys into Novartis could enhance Novartis' portfolio and market position, potentially leading to positive short-term stock price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80