Meda Pharmaceuticals said to have approached Darwazah family with GBP 22 per share offer for Hikma Meda Pharmaceuticals is said to have approached the Darwazah family with a GBP 22 (EUR 26.81) per share offer for Hikma Pharmaceuticals, the Daily Mail reported.
The newspaper’s market report mentioned talk that Meda had made an approach to the family, which holds a 42% stake in Hikma, but did not cite a source.
The item said an offer at GBP 22 a share would represent a GBP 4.3bn valuation for Hikma, a listed UK-based pharmaceuticals company.
The speculation grew stronger yesterday (7 May) after a senior Meda executive said the company has amassed a large budget for mergers and acquisitions, according to the report.
A market report in the Daily Express noted talk that Mylan, a listed Pennsylvania-based manufacturer of generic drugs, might be interested in acquiring Hikma.
Hikma’s share price closed 33p up at 1,620p in London yesterday, giving the UK-based company a market cap of GBP 3.21bn.
Source Daily Mail, Daily Express