Novartis Meets Offer Conditions To Buy MorphoSys In EUR 68/shr Cash Deal

(RTTNews) - Novartis Pharma AG, affiliated to Swiss drug major Novartis AG (NVS), announced Thursday that it has met all tender offer conditions to acquire MorphoSys AG (MOR) for EUR 68 per share in cash.

Novartis BidCo AG, a subsidiary of Novartis, has secured 79.6 percent acceptance by MorphoSys shareholders during the initial acceptance period, reaching the minimum 65% acceptance threshold. This included purchases by Novartis BidCo outside the offer for around 11.6 percent of the share capital.

The settlement of the shares tendered during the initial acceptance period is expected to occur on May 23.

Additional statutory acceptance period is expected to end on May 30.

The company noted that the statutory two-week additional acceptance period for the offer will commence on May 17 and end on May 30.