M&A Features

Teva to offload assets

Teva Pharmaceutical Industries is selling its intrauterine device manufacturing business ParaGard to Cooper Companies for USD 1.10 billion as it seeks to raise money to reduce debt. The deal is expected to close by the end of this year, subject to closing conditions and regulatory approvals.

Gilead to purchase Kite

Gilead has announced a USD 11,900 million tender offer to acquire Kite Pharma as it seeks to diversity its revenue streams. The purchaser has agreed to pay USD 180.00 per share, 29.4 per cent higher than the cancer drug developer’s close of USD 139.10 on 25th August 2017, the last trading day prior to the deal being announced.

Axis Capital increases price to purchase Novae

Axis Capital has sweetened its offer to acquire Novae Group for GBP 477.60 million. The New York Stock Exchange-listed insurance carrier is carrying out the deal via its unit AXIS Specialty UK Holdings and has agreed to pay GBP 7.15 for each share in the target, up from the GBP 7.00 it previously offered.