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Chiron refuses $4.5bn Novartis offer, later accepts $5.1bn

Executive Summary

Stating that the offer is "inadequate," Chiron has refused Novartis's proposal to buy the 57.8% of Chiron (112mm fully diluted common shares) it doesn't already own. The offer was $40 cash per share (a 12% premium), for a total of $4.5bn.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Vaccines
Deal Status
  • Final
Deal Type
  • Acquisition
    • Partial Acquisition
    • Payment Includes Cash
    • Includes Contract

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