logo
Plus   Neg
Share
Email

HVIVO Agrees To Be Bought By Open Orphan In £12.96 Mln Stock Deal

Pharma services company hVIVO plc announced Monday that it has reached an agreement on the terms of a recommended offer to be made by Open Orphan Plc for the entire share capital of hVIVO. Under the terms of the Offer, each hVIVO shareholder will be entitled to receive 2.47 new Open Orphan shares. The deal values hVIVO at approximately 12.96 million pounds.

The offer represents a value of approximately 15.56 pence per hVIVO Share and a premium of 33.8 percent based upon the hVIVO closing price on December 6. The company said the number of New Open Orphan shares expected to be issued pursuant to the terms of the offer is 205.49 million shares.

The offer is classified as a reverse takeover for Open Orphan and will require the approval of its shareholders at the Open Orphan general meeting.

Following the deal, hVIVO Shareholders would own 44.67 percent of the share capital of the combined company.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT