Japan’s AGC Launches Bid For Italian Biotech Firm Molmed

Japan’s AGC (5201.T) has launched a takeover bid on the whole of Italian biotech company Molmed (MLMD.MI) in a deal worth up to 240 million euros ($267 million), AGC said on Tuesday.

In its bid document the Japanese conglomerate said it was offering 0.518 euros per Molmed share, the equivalent of a premium of 110.3% compared to the stock’s closing price on March 16.

AGC, which controls biopharmaceutical unit AGC Biologics, said Fininvest, the holding company of the family of former Prime Minister Silvio Berlusconi, had agreed to tender its 23% stake in Molmed.

Full Content: Reuters

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