M&A

M&A news: Servier agrees to buy shares in Egis

Posted on 25 September 2013

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French big pharma giant Servier has offered to buy the shares in Hungarian pharmaceuticals maker Egis creating M&A news.

BU it does not already own in a deal worth 107 billion forints ($482.83 million).

Servier is offering 28,000 forints ($130) per share, a 33 percent premium to Egis's closing share price on Monday.

Egis shares closed at 21,050 forints on Monday according to Reuters data. The Budapest bourse had earlier in the day suspended trading in the company's shares pending an extraordinary announcement from the company.

Egis posted a net profit of 2.92 billion forints for the third quarter, down 43 percent from the same quarter a year ago due to unfavourable exchange rate changes.

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