By Stuart Condie SYDNEY--Australian biopharmaceutical company CSL Ltd. said it had made an all-cash offer for Vifor Pharma Ltd. that values the Swiss pharmaceutical developer's equity at US$11.7 billion.
CSL on Tuesday said it would partially fund the acquisition with a fully underwritten 6.3 billion Australian dollars share placement and a share purchase plan of up to A$750 million. It will also tap US$6.0 billion in existing cash and a combination of new and existing debt. CSL said it had made a public tender offer of US$179.25 a share. The offer had been unanimously recommended by Vifor's directors, it said.
Vaccine and blood-products maker CSL, the second-largest ASX-listed company by market capitalization, has requested that its shares be placed in a trading halt until Thursday for the capital raising. CSL said Vifor's portfolio focused on renal disease and iron deficiency would complement its existing therapeutic focus areas, while the Australian company's global reach, R&D capabilities and resources would augment the delivery of Vifor Pharma products.
Source: News Formal (newsformal.com)
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