MorphoSys (MOR) has announced that it reached an agreement with Novartis (NVS) based on Novartis' intention to submit a voluntary public takeover offer for all of MorphoSys' outstanding common shares. The proposed offer includes a payment of 68.00 euros per share in cash, resulting in a total equity value of 2.7 billion euros.
The offer price corresponds to a premium of 94% and 142% on the volume-weighted average price during the last month and three months as of the unaffected January 25, 2024 close, respectively - the day before rumors about a transaction first surfaced. It also represents a premium of 89% percent to the closing share price of January 25, 2024.
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