Back To: Home

CLICK HERE FOR WHAT'S NEW IN:
 




 

Taisho Pharma extends tender offer for smaller rival Biofermin
March 2008
SHARING OPTIONS:

TOKYO—Taisho Pharmaceutical Co. has made a tender offer for smaller rival Biofermin Pharmaceutical Co. to make it a consolidated subsidiary. In the offer, Taisho would buy 7.53 million Biofermin shares, or 62 percent of its outstanding shares, at 3,620 yen apiece. Total costs for the purchase will come to 27.2 billion yen.

Taisho officials said in a statement they aim to beef up their health food operations by acquiring Biofermin, which is strong in lactobacillus preparations. A spokesman for Taisho said the acquisition would strengthen its product lineup by adding Biofermin's medicine for intestinal disorders and its offering of lactic acid drugs.

If Taisho fails to obtain 4.88 million Biofermin shares, or 40 percent of the outstanding shares, it will not buy the offered shares. Investment firm T-Zone Capital Inc., Biofermin's top shareholder, has approved the takeover bid, Taisho said in a statement.

Back



PAGE UTILITIES


CONTACT US
DDNEWS
1000 N West Street, Suite 1200,
Wilmington, Delaware, 19801
Ph: 888-781-0328 |  Fax: 705-528-0270
 
© Copyright 2020 Old River Publications LLC. All righs reserved.  |  Web site managed and designed by OffWhite.