Global biotechnology leader CSL and Vifor Pharma, a global specialty pharmaceutical company with leadership in iron deficiency, nephrology & cardio-renal therapies, have entered into a definitive agreement for CSL to acquire Vifor Pharma for an aggregate equity value of US$11.7 billion.
CSL has offered to acquire Vifor Pharma in an all-cash tender offer of US$179.25 per share.
Patinex AG, Vifor Pharma’s largest shareholder holding 23.2% has agreed to tender its shares into the offer.
The transaction remains subject to the conditions and further terms including: minimum acceptance rate of 80% of all Vifor Pharma shares on a fully diluted basis; and further customary offer conditions, including regulatory approvals.
The tender is currently expected to commence around 18 January 2022 and the transaction is expected to complete around mid-2022.
The board of directors of Vifor Pharma considers that the proposed transaction respects the interests of all stakeholders and is unanimously recommending the offer to shareholders. There is committed financing for the deal and a strong commitment to pursue regulatory clearances.
“Vifor Pharma’s strategy has been to focus towards continuing being a market leader in iron deficiency, nephrology and cardio-renal therapies,” Jacques Theurillat, Chairman of the Board of Directors, Vifor Pharma Group commented. “The offer provides an excellent strategic opportunity for Vifor Pharma to optimize future market opportunities from a position of strength and to create substantial value for all stakeholders.”
The transaction will enable Vifor Pharma to leverage CSL’s global reach, balance sheet and capabilities to bring more products to patients within its key categories. The transaction also enables Vifor Pharma to accelerate growth in cardiovascular-metabolic, renal and transplant.
Centerview Partners UK LLP is acting as exclusive financial advisor to Vifor Pharma on the transaction. IFBC have been retained as Fairness Opinion providers by the Vifor Pharma Board of Directors.