Halozyme Therapeutics Bids to Acquire German Competitor Evotec

Dow Jones

2024/11/15

By Sabela Ojea

Halozyme Therapeutics submitted a bid to acquire German drug developer Evotec in a deal with an equity value of 2 billion euros ($2.11 billion.)

The San Diego-based biopharmaceutical company on Thursday said it is proposing to acquire competitor Evotec for EUR11 per share, representing a 109% premium to its share price on Oct. 15, the day prior to a report on Triton Partners' stake in Evotec.

Halozyme Chief Executive Helen Torley said the acquisition would create a U.S., European innovative services company that would accelerate the discovery and development of a diverse pipeline of treatments.

The company added that the takeover wouldn't be subject to any financing contingency, as it has significant cash reserves on-hand and a strong balance sheet.

Halozyme's M&A disclosure came shortly after Bloomberg reported earlier this week that Triton Partners was considering a takeover bid for Evotec, citing people familiar with the matter.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

November 14, 2024 17:20 ET (22:20 GMT)

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@sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 14, 2024 17:20 ET (22:20 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483562493","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483562493","pubTimestamp":1731622800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Halozyme Therapeutics submitted a bid to acquire German drug developer Evotec in a deal with an equity value of 2 billion euros . The San Diego-based biopharmaceutical company on Thursday said it is proposing to acquire competitor Evotec for EUR11 per share, representing a 109% premium to its share price on Oct. 15, the day prior to a report on Triton Partners' stake in Evotec.Halozyme Chief Executive Helen Torley said the acquisition would create a  U.S., European innovative services company that would accelerate the discovery and development of a diverse pipeline of treatments.The company added that the takeover wouldn't be subject to any financing contingency, as it has significant cash reserves on-hand and a strong balance sheet.Halozyme's M&A disclosure came shortly after Bloomberg reported earlier this week that Triton Partners was considering a takeover bid for Evotec, citing people familiar with the matter.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","HALO":"奥洛兹美医疗"},"translate_title":"Halozyme Therapeutics竞购德国竞争对手Evotec","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HALO":1},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Halozyme Therapeutics submitted a bid to acquire German drug developer Evotec in a deal with an equity value of 2 billion euros ($2.11 billion.) \n\n\n  The San Diego-based biopharmaceutical company on Thursday said it is proposing to acquire competitor Evotec for EUR11 per share, representing a 109% premium to its share price on Oct. 15, the day prior to a report on Triton Partners' stake in Evotec. \n\n\n  Halozyme Chief Executive Helen Torley said the acquisition would create a  U.S., European innovative services company that would accelerate the discovery and development of a diverse pipeline of treatments. \n\n\n  The company added that the takeover wouldn't be subject to any financing contingency, as it has significant cash reserves on-hand and a strong balance sheet. \n\n\n  Halozyme's M&A disclosure came shortly after Bloomberg reported earlier this week that Triton Partners was considering a takeover bid for Evotec, citing people familiar with the matter. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 14, 2024 17:20 ET (22:20 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}