Novartis Offers $4.5B for Complete Takeover of Chiron
Filed in archive Corporate and Industrial News on September 1, 2005
Novartis AG said it's offering $40 a share for the 57.8% it doesn't already own in Chiron. According to Novartis spokesman John Gilardi,
"Novartis believes this will put Chiron in a better position to resolve its key issues, especially its production issues, if it's a wholly-owned subsidiary.
Chiron received the go signal earlier this week from the US FDA to resume production of its flu vaccine, in time for production for the upcoming 2005-2006 flu season.
This is the third acquisition bid by Novartis in 2005. Earlier this year, Novartis acquired Hexal AG and Eon Labs.
Read the rest of the report from MarketWatch.
Tags: flu stocks biotech novartis chiron novartis+offers complete+takeover takeover+chiron
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