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.
Report: Partnering Deals and Alliances with Servier
Report: Merger and Acquisition Terms and Agreements
View: Current Partnering’s M&A Scorecard – view top life science M&A deals by value
View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making
View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity
View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity