BeNeLuxBelgiumNetherlandsLuxembourg

Solvay to win bidding war on Innogenetics

14.08.2008

Gent – Belgian Innogenetics NV is the object of a bidding war. After chemical company Solvay tendered its offer to acquire 93% of the diagnostics specialist in April, San-Diego-based Gen-Probe also entered the arena, offering to pay EUR6.10 per share compared to EUR5.75 per share in cash that Solvay promised for the 93% of the stock it does not already own. At the Gen-Probe offer, Innogenetics is valued at a188 million. At the time of Solvay’s offer on April 25th, Innogenetics said its board “unanimously consider(ed) the offer to be friendly and support(ed) it”. Up to now, the company has not commented on the Gen-Probe counter-offer. Innogenetics shareholders sent the stock price up to EUR6.50, betting that the current bid might not be the last.By July, solvay won the battle raising its bid to by increasing its initial conditional tender offer to EUR 6.50 ($10.32) per share, a total cash transaction of EUR 200.7 million ($319 million) for the outstanding shares. Gen-Probe said last week that it will not raise its bid to acquire Innogenetics.

BeNeLuxBelgiumNetherlandsLuxembourg

29.03.2012

Brussels – Promethera Biosciences has completed a Series B financing round, generating proceeds of €23.6m. The Belgian cell therapy company secured a capital increase of €17m from its new investors, among them the venture arms...

BeNeLuxBelgiumNetherlandsLuxembourg

19.03.2012

Leuven – Biopharmaceutical company ThromboGenics has entered into an agreement with Alcon Inc., a division of Novartis for the commercialisation of its product ocriplasmin in all markets outside the U.S. ThromboGenics said it...

BeNeLuxBelgiumNetherlandsLuxembourg

07.03.2012

Amsterdam Molecular Therapeutics has announced a financial manoeuvre aimed at getting the biotech out of a hopeless situation. The assets and – more importantly – the liabilities of the drug developer will be acquired by a newly...

BeNeLuxBelgiumNetherlandsLuxembourg

20.02.2012

Amsterdam - Amsterdam Molecular Therapeutics has announced a financial manoeuvre which is aimed to get the biotech out of a dead end. The assets and – more importantly – the liabilities of the drug developer will be acquired by...

BeNeLuxBelgiumNetherlandsLuxembourg

10.02.2012

Glasgow/Leuven - With a little help from the EU, two biotech companies are banding together to develop the first stem cell therapy against rheumatoid arthritis. UK-based Sistemic will work with TiGenix to develop the Belgian's...

BeNeLuxBelgiumNetherlandsLuxembourg

25.01.2012

Amsterdam – Two elephants in the biofuels business join forces. Dutch food and chemicals group Royal DSM and POET, LLC, a US-based ethanol producer, announced a plan to build a commercial cellulosic ethanol plant. POET–DSM...

BeNeLuxBelgiumNetherlandsLuxembourg

13.01.2012

Heerlen - Royal DSM N.V will be the industrial partner to the Panoptes consortium, which aims to develop novel drug delivery technology for the posterior eye segment. The four year project is supported by EUR4m in funding from...

BeNeLuxBelgiumNetherlandsLuxembourg

04.01.2012

Leiden - Dutch Pharming Group NV has taken a further step to secure sound financing even beyond the recent milestone payments. The drug developer announced that it has entered into a financing of approximately €8.4 million by...

BeNeLuxBelgiumNetherlandsLuxembourg

16.12.2011

Ghent – Just days after US pharmaceuticals giant Pfizer pulled out of a rheumatoid arthritis pact with Ablynx NV, the Belgian biopharmaceutical company expanded its relationship with Merck Serono. Ablynx has now entered into a...

Displaying results 1 to 10 out of 304

1-10 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/news/messages-archive/archive-benelux/article/solvay-to-win-bidding-war-on-innogenetics.html

Image Gallery

Stock list

All quotes

TOP

  • PHARMING (NL)0.53 EUR12.8%
  • BAVARIAN NORDIC (D)14.56 EUR10.3%
  • PROTHENA PLC (IE)30.55 USD8.8%

FLOP

  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.3%
  • GENFIT (F)22.42 EUR-8.1%
  • DEINOVE (F)12.96 EUR-5.3%

TOP

  • WILEX (D)0.92 EUR61.4%
  • BIOTECH PHARMACON (N)17.50 NOK59.1%
  • E-THERAPEUTICS (UK)28.00 GBP40.0%

FLOP

  • CYTOS (CH)0.17 CHF-93.8%
  • BIONOR PHARMA (N)2.12 NOK-46.9%
  • EPIGENOMICS (D)5.09 EUR-37.9%

TOP

  • SILENCE THERAPEUTICS (UK)256.00 GBP5995.2%
  • PHARMING (NL)0.53 EUR783.3%
  • IXICO (UK)70.00 GBP775.0%

FLOP

  • CYTOS (CH)0.17 CHF-95.8%
  • EVOCUTIS (UK)0.22 GBP-92.5%
  • AGENNIX (D)0.04 EUR-77.8%

No liability assumed, Date: 21.04.2014

Current issue

All issues

Product of the week

Products

Events

All Events

Partner-Events

München

BioVaria 2014

Frankfurt am Main

7th DVFA Life Science Conference

White Paper