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Algeta ASA: The Board Of Directors Of Algeta ASA Confirms That It Is In Receipt Of A Preliminary Acquisition Proposal From Bayer AG

  • In response to recent media commentary, the Board of Directors of Algeta ASA confirms that it is in receipt of a preliminary acquisition proposal from Bayer AG.
  • The commentary in the media refers to an acquisition proposal at a price of NOK 306 per Algeta share. This is incorrect. The preliminary acquisition proposal is NOK 336 per Algeta share. 
  • There is no certainty that this preliminary acquisition proposal will lead to a transaction or as to the terms of any such transaction. 

OSLO, Norway, Nov. 26, 2013 (GLOBE NEWSWIRE) -- The Board of Directors of Algeta ASA (OSE: ALGETA) today announced that it is in receipt of a preliminary acquisition proposal from Bayer AG which may or may not lead to a transaction. Discussions are at an early stage and further announcements may be made, as appropriate, in due course.

###

For further information, please contact:

Oystein Soug +47 90 65 65 25
CFO  
   
Mike Booth +1 646 410 1884
Communications & Corporate Affairs ir@algeta.com
   

About Algeta

Algeta is a company focused on developing, manufacturing and marketing novel targeted therapies for patients with cancer. The Company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com .

HUG#1745706

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