Halozyme gains after withdrawing $2.1 bln buyout offer for Evotec

Halozyme Therapeutics

22/11/2024 14:06

** Shares of drug developer Halozyme Therapeutics  HALO.O 
gain ~13% to $51.5 premarket
    ** Co withdraws offer to buy German drug developer Evotec
 EVTG.DE  for 11 euro per share, or 2 billion euros  ($2.09
billion)
    ** U.S.-listed shares of Evotec  EVO.O  down about 17% at
$4.43 before the bell 
    ** HALO CEO Helen Torley says EVO "has been unwilling to
engage with us to explore a potential combination and a company
spokesperson has publicly commented that its goal is to remain
an independent company"
    ** Adds that multiple requests to meet with the chairwoman
of EVO's supervisory board were not accepted 
    ** HALO announced its proposal to buy EVO on Nov 14 
    ** As of last close, HALO up ~24% YTD and EVO down ~53% YTD


($1 = 0.9589 euros)

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))