Health
Germany’s Evotec Gets Takeover Interest From Halozyme
- Halozyme confirms proposal to buy drug developer for €11/share
- Evotec’s shares surge to the highest level in six months
Evotec develops drug discovery programs with biotech and pharmaceutical companies in areas including cardiovascular disease, oncology and immunology.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Evotec SE has attracted takeover interest from Nasdaq-listed biotech firm Halozyme Therapeutics Inc. for a deal that would value the German drug developer at €2 billion ($2.1 billion).
Halozyme said in a statement confirming an earlier report by Bloomberg News that it has submitted a non-binding proposal to acquire Evotec for €11 per share. That would represent a roughly 27% premium to Evotec’s closing price on Thursday.