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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

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Novo Nordisk negotiating Biocorp control.

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The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a ... The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a production plant in Chartres, north-central France, April 21, 2016. REUTERS/Guillaume Souvant/Pool
The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a ... The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a production plant in Chartres, north-central France, April 21, 2016. REUTERS/Guillaume Souvant/Pool

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On Monday, Novo Nordisk announced plans to acquire a majority share in French medical device maker Biocorp (ALCOR.PA).

The Danish business said it was in exclusive negotiations with Bio Jag, Biocorp’s largest shareholder, to buy its approximately 45% position in the French company for 35.0 euros ($37.44) per share in cash.

The firms said Biocorp’s transaction value is around 154 million euros, a 19.5% premium over its June 2 closing market price.

Biocorp’s 19.0% minority owners will transfer shares to Novo Nordisk in a squeeze-out.

Novo said the block purchase should happen in the third quarter of 2023 and the subsequent offer in September.

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