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Samsung Biologics Eyes PolyPeptide Acquisition in September
31 Aug
Summary
- Samsung Biologics will launch a takeover offer in September.
- The deal aims to acquire PolyPeptide for 1.46 billion Swiss francs.
- The acquisition is intended to delist PolyPeptide from the Swiss stock exchange.
Samsung Biologics announced on Monday that it will initiate its takeover bid for PolyPeptide Group, a Swiss contract drugmaker, during September. The South Korean pharmaceutical giant had previously disclosed its intention in July to acquire PolyPeptide.
The proposed transaction values the Swiss company at 1.46 billion Swiss francs. A primary objective of this acquisition is to facilitate the delisting of PolyPeptide from the Swiss stock exchange.
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