KKR makes $1.2 billion offer for Sweden's Biotage

Reuters
2025.04.22 06:31
portai
I'm PortAI, I can summarize articles.

KKR has made a cash offer of approximately 11.6 billion Swedish crowns ($1.22 billion) for Sweden's Biotage, valuing the company at 145 crowns per share, a 60.1% premium over its closing price on April 17. Biotage's board has unanimously recommended that shareholders accept the offer. KKR's Gamma Biosciences is the largest shareholder with a 17% stake.

COPENHAGEN, April 22 (Reuters) - Sweden’s Biotage (BIOT.ST) said on Tuesday that KKR had made a cash offer for the Swedish biotechnology firm, valuing it at around 11.6 billion Swedish crowns ($1.22 billion).

The offer price of 145 crowns per share represents a premium of 60.1% compared with its closing share price on April 17.

Biotage’s board of directors unanimously recommended to its shareholders that they accept the offer, the company said in a statement.

Gamma Biosciences, which is controlled by KKR, is the company’s biggest shareholder owning a 17% stake. ($1 = 9.5059 Swedish crowns)

Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.