A consortium led by non-public fairness corporations Nordic Capital and Permira has made a $3 billion provide to amass all excellent shares of Danish vaccine producer Bavarian Nordic (BAVA.CO), the corporate introduced Monday.
Bavarian Nordic, recognized for its vaccines focusing on mpox, smallpox, and different infectious ailments, has seen its shares rise 21% since confirming discussions with Nordic Capital and Permira final week. On Monday, shares opened 2% increased at 238 crowns.
Kempen analysts famous that whereas the provide worth falls wanting their 300 crown goal, the premium is cheap given uncertainties within the U.S. market and the corporate’s reliance on contract-based public well being preparedness applications.
Bavarian Nordic is a key provider to international governments, together with U.S. public well being preparedness initiatives.
The acquisition will probably be topic to customary situations, together with Innosera securing over 90% possession or legitimate acceptances of voting rights and shares by the tip of the provide interval.
However, Danish pension fund ATP, holding a ten% stake in Bavarian Nordic, has rejected the provide. Claus Berner Moller, ATP’s Vice President for Danish Equities, stated, “Neither the timing nor the value of the introduced provide displays the alternatives we see within the firm.”
If the deal completes, anticipated in This autumn 2025, Bavarian Nordic’s shares will probably be delisted from Nasdaq Copenhagen.
