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Novo Nordisk In Negotiations To Acquire Medical Device Maker Biocorp For About $165M (€154M)

 
• By Marion Webb
  
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After a nearly two-year collaboration, Novo Nordisk said it has begun talks to buy a controlling stake in French medical device company Biocorp.

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The Danish diabetes care company announced on 5 June it has entered into exclusive negotiations with Bio Jag for the purchase of its entire stake in Biocorp, at a price of €35 ($37.44) per share in cash. Bio Jag is Biocorp’s main shareholder and owns 45% of the company’s stock. The price represents a premium of 19.5% over Biocorp’s closing market price on 2 June.

The deal values Biocorp at about €154m, the companies said. Certain minority shareholders, including Nyenburgh, Greenstock and Vatel Capital, which...

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