Halozyme Provides Update on Non-Binding Proposal to Combine with Evotec
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Halozyme Therapeutics has proposed a non-binding acquisition of Evotec SE to create a leading pharma services company. The all-cash deal, valued at €2.0 billion, aims to diversify and scale Halozyme's revenue and EBITDA. The transaction will be funded by cash and new debt, with expected net leverage below 2x two years post-close.
November 18, 2024 | 12:15 pm
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POSITIVE IMPACT
Evotec is the target of a €2.0 billion acquisition proposal by Halozyme, which would create a leading pharma services company. The deal offers €11.00 per share in cash.
The acquisition proposal from Halozyme offers a premium to Evotec shareholders, likely leading to a positive short-term impact on Evotec's stock price as investors anticipate the deal's completion.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Halozyme's proposal to acquire Evotec aims to create a leading pharma services company, diversifying and scaling its revenue and EBITDA. The deal is valued at €2.0 billion and will be funded by cash and new debt.
The acquisition of Evotec is a strategic move for Halozyme to expand its capabilities and revenue streams. The all-cash deal indicates financial strength and commitment to growth, likely boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90