Bavarian Bidders Drop Takeover Offer After Investor Pushback
Bavarian develops travel vaccines and partners with governments and other organizations on delivering mpox and smallpox vaccines.
Photographer: Kobi Wolf/BloombergNordic Capital and Permira dropped their takeover bid for Bavarian Nordic A/S after failing to gauge the depth of investor resistance to their offer for the Danish vaccine maker.
The offer closed with 60% of shares tendered, falling short of the 66.7% threshold set last month, according to preliminary results released Thursday. As a result, the private equity pair withdrew the offer first announced in late-July.