18th Sep 2015 15:25
LONDON (Alliance News) - Dechra Pharmaceuticals PLC said Friday it has launched its formal mandatory offer to acquire the shares in Croatian listed pharmaceuticals business Genera DD not owned by Marijan Hansekovic.
Dechra agreed to acquire Hansekovic's 63.3% shareholding in the company in August for EUR23.66 share. The agreement was conditional on Dechra obtaining acceptances to its takeover offer which, when taken with Hansekovic's holding, would amount to 75% or more.
It is offering the same price, equivalent to EUR51.4 million for the entire share capital and a 42.5% premium on the closing price of the company's shares at the end of July. It will fund the offer from its existing debt facilities.
Shares in Dechra were down 0.4% at 1,002.00 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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