Novartis Pharma AG, a subsidiary of the Swiss pharmaceutical giant Novartis AG (NVS), announced on Thursday that it has successfully met all conditions for its tender offer to acquire MorphoSys AG (MOR) at a price of EUR 68 per share in cash.
During the initial acceptance period, Novartis BidCo AG, another subsidiary of Novartis, secured acceptance from 79.6 percent of MorphoSys shareholders, surpassing the minimum threshold of 65 percent. This figure includes approximately 11.6 percent of MorphoSys's share capital that was purchased by Novartis BidCo outside of the tender offer.
The settlement of shares tendered during the initial acceptance period is scheduled for May 23.
The additional statutory acceptance period is anticipated to conclude on May 30.
The company further noted that this statutory two-week additional acceptance period for the offer will commence on May 17 and will end on May 30.