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.
