The shareholders of the biotechnology company Biotage are being offered 145 kronor per share, with the company’s board recommending that shareholders accept the offer. This bid values Biotage at 11.6 billion kronor.
“We have been closely following Biotage’s development with great interest for several years, and more recently as the company’s largest shareholder through Gamma Biosciences. Since becoming active owners, we have worked closely with Biotage and are impressed by the company’s management and employees, as well as its leading position in several attractive segments,” said Kugan Sathiyanandarajah, partner at KKR and board member of Biotage.
Carnegie Fonder, SEB Asset Management, and Coeli collectively represent 15,235,630 common shares in Biotage, approximately 19% of the outstanding shares and votes, and have expressed their support for the offer. Gamma Biosciences, controlled by KKR Funds, already owns nearly 17% of the shares.
This acquisition offer represents a significant milestone for Biotage and its shareholders. The partnership with KKR brings a wealth of experience and resources that can help propel Biotage to new heights in the biotechnology industry. With the support of major shareholders and the endorsement of the board, the future looks promising for Biotage under KKR’s ownership.
The biotechnology sector is a rapidly growing and competitive industry, with constant innovations and breakthroughs driving companies to seek strategic partnerships and acquisitions to stay ahead. Biotage’s decision to accept KKR’s offer reflects the company’s commitment to maximizing value for its shareholders and leveraging opportunities for growth and expansion.
KKR’s interest in Biotage is a testament to the company’s strong performance and potential for further success. The partnership between KKR and Biotage is poised to create synergies that will benefit both parties and drive innovation in the biotechnology sector.
As the acquisition process moves forward, shareholders can look forward to a new chapter in Biotage’s journey, one that promises growth, development, and success in the dynamic world of biotechnology. With KKR’s backing and support, Biotage is well-positioned to achieve its strategic objectives and create value for all stakeholders involved.