Comment on Withdrawn Non-Binding Offer
Evotec SE acknowledges Halozyme Therapeutics Inc.'s withdrawal of its non-binding proposal to acquire Evotec for EUR11.00 per share in cash. The proposal was initially submitted on November 13, 2024. Evotec's Management Board and Supervisory Board, along with advisors, were in the process of evaluating the proposal when it was withdrawn. The company's leadership maintains strong confidence in their standalone strategy, which they believe will drive growth, enhance long-term profitability, and create significant shareholder value.
Evotec SE riconosce il ritiro da parte di Halozyme Therapeutics Inc. della sua proposta non vincolante di acquisire Evotec per EUR11,00 per azione in contante. La proposta era stata inizialmente presentata il 13 novembre 2024. Il Consiglio di Amministrazione e il Consiglio di Sorveglianza di Evotec, insieme ai consulenti, stavano evaluando la proposta quando è stata ritirata. La leadership dell'azienda mantiene una forte fiducia nella propria strategia indipendente, che crede porterà a una crescita, a un miglioramento della redditività a lungo termine e a una significativa creazione di valore per gli azionisti.
Evotec SE reconoce el retiro por parte de Halozyme Therapeutics Inc. de su propuesta no vinculante para adquirir Evotec por EUR11,00 por acción en efectivo. La propuesta se presentó inicialmente el 13 de noviembre de 2024. La Junta Directiva y la Junta de Supervisión de Evotec, junto con asesores, estaban en proceso de evaluar la propuesta cuando fue retirada. El liderazgo de la empresa mantiene una fuerte confianza en su estrategia independiente, que creen que impulsará el crecimiento, mejorará la rentabilidad a largo plazo y creará un valor significativo para los accionistas.
Evotec SE는 Halozyme Therapeutics Inc.가 Evotec를 주당 EUR11.00에 현금으로 인수하겠다는 비구속 제안 철회를 승인합니다. 이 제안은 2024년 11월 13일에 처음 제출되었습니다. Evotec의 경영진과 감독 위원회는 제안이 철회되기 전에 제안을 평가하고 있었습니다. 회사의 리더십은 독립적인 전략에 대한 강한 확신을 유지하고 있으며, 이 전략이 성장으로 이어지고 장기적인 수익성을 높이며 주주 가치를 크게 창출할 것이라고 믿고 있습니다.
Evotec SE reconnaît le retrait par Halozyme Therapeutics Inc. de sa proposition non contraignante d'acquérir Evotec pour EUR11,00 par action en espèces. La proposition avait été initialement soumise le 13 novembre 2024. Le conseil d'administration et le conseil de surveillance d'Evotec, avec l'aide de conseillers, étaient en train d'évaluer la proposition lorsque celle-ci a été retirée. La direction de l'entreprise a une forte confiance dans sa stratégie autonome, qu'elle estime capable de favoriser la croissance, d'améliorer la rentabilité à long terme et de créer une valeur significative pour les actionnaires.
Evotec SE anerkennt den Rückzug des nicht bindenden Angebots von Halozyme Therapeutics Inc. zur Übernahme von Evotec für EUR11,00 pro Aktie in Bar. Das Angebot wurde ursprünglich am 13. November 2024 eingereicht. Der Vorstand und der Aufsichtsrat von Evotec waren zusammen mit Beratern dabei, das Angebot zu bewerten, als es zurückgezogen wurde. Die Unternehmensleitung ist fest von ihrer Eigenständigkeitsstrategie überzeugt, die sie für wachstumsfördernd, langfristig rentabilitätssteigernd und zur Schaffung eines erheblichen Shareholder-Werts hält.
- None.
- Withdrawal of acquisition offer at EUR11.00 per share, potentially impacting short-term stock value
- Loss of immediate premium opportunity for shareholders that would have come with the acquisition
Insights
The withdrawal of Halozyme's
The market will likely react negatively to this news in the short term, as merger arbitrage traders exit positions and the takeover premium dissipates from the stock price. However, Evotec's management's confidence in their standalone strategy indicates they believe the company is undervalued at the proposed price. Their focus on accelerating growth and improving profitability could potentially deliver greater long-term shareholder value than the proposed acquisition.
HAMBURG, GERMANY / ACCESSWIRE / November 22, 2024 / Evotec SE (Frankfurt Stock Exchange:EVT)(SDAX/TecDAX, Prime Standard, ISIN: DE 000 566480 9, WKN 566480)(NASDAQ:EVO)
Evotec SE has taken notice of the statement made by Halozyme Therapeutics Inc. on 22 November, stating that it has withdrawn its non-binding proposal to acquire Evotec SE (NASDAQ:EVO) ("Evotec") for EUR11.00 per share in cash.
The Management Board and Supervisory Board of Evotec, together with its advisors, have been in the process of thoroughly assessing the Non-Binding Proposal submitted by Halozyme in a letter dated 13 November 2024, in which it expressed an interest in a combination of Halozyme with Evotec.
The Management Board and Supervisory Board continue to have strong conviction in the Company's standalone strategy, which is expected to accelerate growth, strengthen the long-term profitability of the Company and deliver significant value to shareholders.
- End of the ad hoc release -
Contact: Volker Braun, EVP Head of Global Investor Relations & ESG, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49 (0) 151 1940 5058 (m), volker.braun@evotec.com
SOURCE: Evotec SE
View the original press release on accesswire.com
FAQ
What was the price per share offered by Halozyme to acquire Evotec (EVO)?
When did Halozyme withdraw its offer to acquire Evotec (EVO)?
When was the original acquisition proposal for Evotec (EVO) submitted?
