Japan’s Asahi Kasei said on Tuesday (May 28) it offered to acquire Calliditas Therapeutics for about US$1.1 billion as part of a plan to become a global drug company.
The Japanese firm will offer 208 kronor (S$26.54) per share of Stockholm-based Calliditas and 416 kronor for each American depositary share in a deal approved by the boards of both companies, Asahi Kasei said in a statement.
The offer represents an 83 per cent premium for Calliditas based on the closing price of 113.6 kronor on Monday.
Asahi Kasei, primarily known for its building materials business, said it wants to grow its healthcare segment globally in the fields of immunology, transplantation, and related diseases.
Calliditas focuses on orphan diseases and patients with unmet medical needs. In recommending that shareholders accept the tender offer, the Calliditas board said in a statement that the company stands to “realise the benefits of being part of a larger platform”. REUTERS
