Avacta and AZN6 Dec 2021 13:35
This is what we could expect from AZN,in order to prevent anyone buying Avacta in Cambridge.
“ An $8 billion attempt by two private equity companies to acquire Swedish rare disease specialist Sobi and take it back into private ownership has collapsed, with reports suggesting AstraZeneca was instrumental in blocking the deal.
Tenders to the offer fell below the 90% threshold needed to drive the merger through, and a key part of that was AZ’s refusal to back the offer from Advent International and Singapore’s sovereign wealth fund GIC, according to a Bloomberg report.
AZ’s has an 8% stake the Swedish company which stems mainly from a 2019 deal between the two companies which saw Sobi acquire US rights to Synagis (palivizumab), AZ’s drug therapy for respiratory syncytial virus (RSV) infections, for $1.5 billion in cash and shares.
The report suggests that AZ was unhappy about the risk that Sobi’s rights to Synagis may be sold off to another competing drugmaker, as it may be interested in reacquiring full ownership of the drug or other Sobi assets.”