Advent, Aurora withdraws $8 bln bid for Swedish drugmaker Sobi

Investor AB

03/12/2021 07:36

STOCKHOLM, Dec 3 (Reuters) - U.S. private equity firm Advent
International and Singapore's sovereign wealth fund on Friday
said they are withdrawing their bid for Swedish drugmaker Orphan
Biovitrum (Sobi)  SOBIV.ST , citing a low acceptance level.
    Sobi in September agreed to an $8 billion takeover by Advent
and Aurora, an investment vehicle of Singapore's GIC Pte Ltd, 
through Agnafit Bidco.  urn:newsml:reuters.com:*:nL8N2Q41JO
    "Since the acceptance level condition has not been
fulfilled, Agnafit Bidco hereby withdraws the offer," Agnafit
Bidco said in a statement.
    Agnafit said shares corresponding to around 87.3% of
outstanding shares in Sobi had been tendered, below its
condition of more than 90%.

 (Reporting by Helena Soderpalm, editing by Supantha Mukherjee)
 ((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))