Kappa Bioscience could buy balance of NattoPharma

Kappa Bioscience has agreed to buy an 11.0 per cent shareholding in NattoPharma, a Norway-based maker of nutraceuticals. Following completion of that deal, it has also announced its intention to bid for the remaining 89.0 per cent stake it does not already own in the Oslo Axess-traded firm. Under the terms of that second transaction, the firm will pay NOK 12.75 (EUR 1.18) in cash per item of stock in the business, thereby valuing the deal at NOK 220.41 million. Based on NattoPharma’s close of NOK 12.00 on 27th May, the last trading day prior to the announcement, the bid represents a 6.3 per cent premium. Kappa intends to launch the offer on the condition that the target grants it access to carry out customary due diligence, as well as satisfactory completion of this review and receipt of financing. The acquiror’s board must also give its seal of approval to the planned transaction. Kappa said the acquisition is in line with its goal of becoming a global market leader in the vitamin K2 segment. Oslo-headquartered NattoPharma is the exclusive international supplier of MenaQ7 Vitamin K2 as MK-7, according to its website. The firm has an international presence through subsidiaries in the US and Cyprus. It has been publicly traded since January 2008 and recorded revenue of NOK 56.30 million in the first quarter of 2020, up from NOK 27.80 million over the corresponding timeframe in the previous year. Zephyr, the M&A database published by Bureau van Dijk, shows there have been 615 deals worth a combined USD 29.65 billion targeting pharmaceutical preparation manufacturers announced worldwide since the beginning of 2020. This is lower than the 842 with an aggregate value of USD 119.87 billion which were signed off over the corresponding timeframe of last year, while the figures for the same period of 2018 stood at 535 and USD 125.77 billion, respectively. © Zephus Ltd
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