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Diego Thomazini/iStock via Getty Images Japanese conglomerate Asahi Kasei ( OTCPK:AHKSY ) ( OTCPK:AHKSF ) on Tuesday proposed to acquire Swedish biopharmaceutical company Calliditas Therapeutics ( NASDAQ: CALT ) for $1.1B. Asahi Kasei ( OTCPK:AHKSY ) ( OTCPK:AHKSF ) offered to acquire all shares in Calliditas ( CALT ) for SEK 208 in cash per share.

It also announced a concurrent offer to buy all American Depositary Shares, each representing two CALT shares, for SEK 416 in cash per ADS. The total value of the offer corresponds to SEK 11.16B.



The offer represents a premium of 83% compared to the closing price of the shares on Nasdaq Stockholm on May 27, 2024. Headquartered in Stockholm, Sweden, Calliditas ( CALT ) is developing a pipeline of novel medications to address a range of orphan indications, with an initial focus on renal and hepatic diseases. With Asahi Kasei as its new strategic owner, Calliditas ( CALT ) aims to realize the benefits of being part of a larger platform and the potential opportunity to accelerate its revenue growth trajectory as well as pipeline development.

The acceptance period of the offer is expected to commence on or around July 18, 2024, and expire on or around August 30, 2024, subject to any extensions. Completion of the offer is conditional upon customary conditions including, amongst other things, Asahi Kasei becoming the owner of more than 90% of the shares in Calliditas (on a fully diluted basis) and receipt of all necessary regulatory appro.

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