Halozyme offers to acquire Evotec.
Halozyme Therapeutics, Inc. confirmed it has submitted a non-binding proposal to the Management Board and Supervisory Board of Evotec SE to acquire Evotec for €11.00 per share in cash, implying a fully diluted equity value of €2.0 billion.
The proposal represents a premium of 109% to Evotec's undisturbed share price on October 15, 2024, the day prior to Triton Partners' initial accumulation of Evotec shares, and a premium of 77% to Evotec's last three-month volume weighted average price on October 15, 2024. "The combination of Halozyme and Evotec would diversify and extend Halozyme revenue and EBITDA growth and durability well into the next decade and beyond," said Helen Torley, president and chief executive officer of Halozyme. "I am excited about the potential to bring together best-in-class innovative technologies and both organizations' capabilities to create a pan U.S. / European innovative services company. With increased scale, a deep pipeline, and a diversified offering, we would be a highly attractive strategic partner to the biopharma industry. This in turn would provide a remarkable opportunity to accelerate the discovery and development of medicines that will improve patients' outcomes."
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