Australia's CSL Agrees To Buy Vifor Pharma For $11.7 Bln In Cash - Quick Facts

Australian biotech company CSL Ltd. (CSL.AX,CMXHF.PK) announced Tuesday its definitive agreement to acquire Swiss drugmaker Vifor Pharma Ltd. for an aggregate equity value of $11.7 billion or about 10.9 billion Swiss francs.

CSL said it has offered to acquire Vifor Pharma in an all-cash tender offer of $179.25 or 167 francs per share, payable in U.S. dollars. The offer assumes a dividend of CHF 2 expected to be declared at the AGM of April 26.

The tender offer represents an implied premium of approximately 61% to the unaffected closing price of Vifor Pharma on December 1, 2021 and a 47% premium to Vifor Pharma's unaffected 1-month VWAP as of December 1, 2021.

Patinex AG, Vifor Pharma's largest shareholder holding 23.2% has agreed to tender its shares into the offer.

The deal is subject to certain conditions and terms including minimum acceptance rate of 80% of all Vifor Pharma shares on a fully diluted basis; and further customary offer conditions, including regulatory approvals.

The tender is currently expected to commence around 18 January 2022 and the transaction is expected to complete around mid-2022.

Responding to media speculation, the company on Monday had confirmed its takeover talks with Vifor Pharma.

Vifor Pharma is a specialty pharmaceutical company with focus on iron deficiency, nephrology & cardio-renal therapies.

CSL expects the acquisition will enable Vifor Pharma to leverage CSL's global reach, balance sheet and capabilities to bring more products to patients within its key categories. The transaction also enables Vifor Pharma to accelerate growth in cardiovascular-metabolic, renal and transplant.

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