Japan's AGC launches bid on Italy's Molmed worth up to 240 mln euros

AGC

17/03/2020 07:18

MILAN, March 17 (Reuters) - Japan's AGC  5201.T  has
launched a takeover bid on all the shares of Italian biotech
company Molmed  MLMD.MI  in a deal worth up to 240 million euros
($267 million), AGC said in a statement on Tuesday.
    AGC is offering 0.518 euros per Molmed share, the equivalent
of a premium of 110.3%.
    AGC said Fininvest, the holding company of the family of
former Prime Minister Silvio Berlusconi, had agreed to tender
its stake in Molmed.
    Fininvest owns around 23% of Molmed shares.
    The aim of the bid is to delist Molmed, AGC said.
    
($1 = 0.8973 euros)

 (Reporting by Stephen Jewkes; editing by Agnieszka Flak)
 ((stephen.jewkes@thomsonreuters.com; +39.0266129695; Reuters
Messaging: stephen.jewkes.thomsonreuters.com@reuters.net))