TBE/iStock Editorial via Getty Images MorphoSys AG ( NASDAQ: MOR ) Thursday said that it has entered into a delisting agreement with Novartis BidCo AG and Novartis AG ( NYSE: NVS ) following the successful closing of the acquisition by Novartis in May. Novartis BidCo Germany AG (together with Novartis BidCo AG and Novartis AG) also informed MorphoSys of their intention to merge MorphoSys into Novartis by initiating a squeeze-out of MorphoSys’ minority shareholders. In April 2024, drugmaker Novartis submitted a voluntary public takeover offer for all outstanding MorphoSys no-par value bearer shares, offering MorphoSys shareholders €68.
00 per share in cash. The acceptance period of the takeover offer and the statutory two-week additional acceptance period ended on May 13, 2024, and May 30, 2024, respectively. As of June 20, Novartis ( NVS ) holds approximately 91.
04% of the total MorphoSys share capital, including purchases by Novartis ( NVS ) outside the takeover offer. As a result, Novartis is the majority shareholder of MorphoSys, making MorphoSys ( MOR ) a Novartis company. Both the delisting from the Frankfurt Stock Exchange and the delisting from NASDAQ are expected to take place in the third quarter of 2024.
It is planned that the necessary shareholders’ resolution on the merger squeeze-out will be adopted at the MorphoSys Annual General Meeting, expected to take place in August 2024, the company said. Source: Press Release More on MorphoSys, Novartis, etc. Novarti.