(Reuters) -Britain’s Alliance Pharma said on Monday it has agreed to a sweetened final cash proposal from asset management firm DBAY Advisors, valuing the healthcare group at about 362 million pounds ($467.5 million). The revised 64.75 pence-per-share proposal is a 3.6% increase from the previous bid of 62.5 pence, and represents a premium of 46% […]
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UK’s Alliance Pharma accepts DBAY’s sweetened final offer
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(Reuters) -Britain’s Alliance Pharma said on Monday it has agreed to a sweetened final cash proposal from asset management firm DBAY Advisors, valuing the healthcare group at about 362 million pounds ($467.5 million).
The revised 64.75 pence-per-share proposal is a 3.6% increase from the previous bid of 62.5 pence, and represents a premium of 46% to the Alliance stock’s closing price on January 9, the day before the start of the offer period.
In January, the companies had agreed to the initial proposal of 62.5 pence, before the general meeting was adjourned in February to allow Alliance’s shareholders additional time to consider the deal.
($1 = 0.7744 pounds)
(Reporting by Aby Jose Koilparambil and Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala)