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Triton Sweetens Clinigen Bid to Persuade Biggest Investors

  • Bidder offers 925 pence per share, up from 883 last month
  • New price still undervalues pharma company, analyst says
Updated on

Triton Investment Management raised its offer for Clinigen Group Plc to win the backing of shareholders including activist Elliott Investment Management, but the stock declined amid doubts that the sweetened bid will sway key investors. 

Triton offered 925 pence in cash for each share of the U.K. pharma company, up from 883 pence on Dec. 8, and described it as final in a statement Monday. Clinigen shares fell as much as 2.6% to 881 pence in London trading.