HALO Withdraws Acquisition Bid for EVO, Reaffirms '24 View, Stock Up
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Halozyme has withdrawn its acquisition bid for Evotec, which was proposed at 11 euros per share in cash. Despite this, Halozyme reaffirms its 2024 revenue guidance, leading to an increase in its stock price.
November 25, 2024 | 5:00 pm
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Halozyme has decided not to proceed with its acquisition of Evotec, initially proposed at 11 euros per share. The company maintains its 2024 revenue guidance, which has positively impacted its stock price.
The withdrawal of the acquisition bid removes uncertainty and potential financial burden from Halozyme, while reaffirming revenue guidance provides confidence in future performance, leading to a positive stock price reaction.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90