Novartis eyes buy-out of biopharma firm Speedel
Swiss pharmaceutical giant Novartis said on Thursday it had boosted its stake in biopharmaceutical firm Speedel by 51.7% and aimed to buy it out completely for 907 million Swiss francs (€560 millions, $882 million).
Novartis added the 51.7% to its existing 9.7 stake in Speedel for 130 Swiss francs cash per share, it said in a statement. The $882 million figure is what Novartis expects to pay for the entire acquisition of Speedel, including its initial 9.7% stake. (Economic Times)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.