Novo Nordisk Confirms It Will Not Make Revised Bid for Ablynx
29 January 2018 - 9:59PM
Dow Jones News
By Dominic Chopping
Denmark's Novo Nordisk A/S (NOVO-B.KO) said Monday it won't come
back with a revised bid for Ablynx NV (ABLX) after the Belgian
biopharmaceutical company agreed a takeover deal from Sanofi SA
(SAN.FR).
Novo Nordisk had been courting Ablynx for the last couple of
months, but said recently that the Ablynx board had rejected two of
its bids and declined to engage in any discussions.
Novo Nordisk's latest offer, made Dec. 22, 2017, was a 2.6
billion-euro ($3.2 billion) bid consisting of EUR28.00 upfront and
EUR2.50 in Contingent Value Rights.
Ablynx accepted a EUR3.9 billion offer from Sanofi on Monday,
saying the French drug maker's bid "represents compelling value for
shareholders and maximizes the potential of our pipeline."
In response, Novo Nordisk confirmed it would not be making a
revised proposal.
Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
January 29, 2018 05:44 ET (10:44 GMT)
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