(CercleFinance.com) – MorphoSys announced Thursday that Novartis plans to file a public buyout offer for the securities it does not yet hold, a procedure which will be followed by a squeeze-out.
The Swiss biopharmaceutical giant currently controls more than 91% of the capital of the German biotechnology company following the takeover bid at 68 euros per share that it announced in April and closed at the end of May.
With the ownership of this majority stake, Novartis is now the controlling shareholder of MorphoSys, making the latter one of its subsidiaries.
The date of the delisting has not yet been determined, but the operation should take place on the Frankfurt Stock Exchange as well as on the Nasdaq, MorphoSys’ second place of listing, during the third quarter, indicates MorphoSys in a financial advice.
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