Brief: Morphosys Says Co Acquired By Novartis For EUR 2.7 Bln Equity Value & Into Purchase Agreement With Incyte For The Sale Of Tafasitamab

Morphosys AG

05/02/2024 21:53

Feb 5 (Reuters) - Morphosys Ag  MORG.DE :
    * EQS-ADHOC: AD HOC: MORPHOSYS AG ENTERS INTO BUSINESS
COMBINATION
 AGREEMENT TO BE ACQUIRED BY NOVARTIS FOR € 2.7 BILLION EQUITY
VALUE AND INTO PURCHASE AGREEMENT WITH INCYTE FOR THE SALE OF 
TAFASITAMAB
    * ENTERED INTO PURCHASE AGREEMENT WITH INCYTE CORPORATION TO
SELL
& TRANSFER ALL RIGHTS WORLDWIDE RELATED TO TAFASITAMAB FOR $
25.0 MILLION
    * MORPHOSYS' MANAGEMENT BOARD AND SUPERVISORY BOARD
UNANIMOUSLY
APPROVED BOTH AGREEMENTS
    * MORPHOSYS : NOVARTIS SEEKS TO OBTAIN EXCLUSIVE, WORLDWIDE
RIGHTS
TO DEVELOP & COMMERCIALIZE PELABRESIB, INVESTIGATIONAL BET
INHIBITOR, & TULMIMETOSTAT
    * MORPHOSYS' MANAGEMENT BOARD AND SUPERVISORY BOARD INTEND
TO
RECOMMEND ACCEPTANCE OF TAKEOVER OFFER
    * MORPHOSYS - OFFER WILL CONTAIN CUSTOMARY CLOSING
CONDITIONS, A
MINIMUM ACCEPTANCE OF 65% OF MORPHOSYS' SHARE CAPITAL AND
REGULATORY CLEARANCES
    * MORPHOSYS WILL PUBLISH A NEW FINANCIAL GUIDANCE IN DUE
COURSE
    * MORPHOSYS : CONSEQUENCE OF SALE & TRANSFER OF TAFASITAMAB
TO
INCYTE, MORPHOSYS' 2024 FINANCIAL GUIDANCE PUBLISHED ON JAN 30,
2024 CANNOT BE MAINTAINED

Source text for Eikon:  ID:nEQ8YDJwLa 
Further company coverage:  MORG.DE 

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