Samsung Biologics to launch takeover bid for PolyPeptide in September (updated)
UPDATE 1-Samsung Biologics to launch takeover bid for PolyPeptide in September Adds context on July announcement in paragraph 2, recommendation from PolyPeptide board in bullet point 3.
Aug 31 (Reuters) - Samsung Biologics 207940.KS will launch its takeover offer for Swiss contract drugmaker PolyPeptide Group PPGN.S in September, the South Korean company said in an offer prospectus on Monday.
The companies had announced in July that Samsung Biologics would launch an offer of 1.46 billion Swiss francs ($1.80 billion), with the aim of delisting PolyPeptide from the Swiss stock exchange.
Samsung Biologics will offer 44.31 francs per registered PolyPeptide share through unit Samsung Peptide.
The offer period is set to run from September 15 to October 12.
PolyPeptide's board unanimously recommends its shareholders accept Samsung Biologics' offer.
($1 = 0.8093 Swiss francs)
(Reporting by Tristan Veyet in Gdansk, editing by Milla Nissi-Prussak)
((Tristan.veyet@thomsonreuters.com;))
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