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BB Biotech rejects opportunity to increase portfolio value by 30%

This article was originally published in Scrip

Executive Summary

Vontobel Group, the Swiss bank, says it has no intention of going hostile in its bid to restructure BB Biotech into an unlisted investment fund following a firm rejection from the investment company's board. In an unsolicited move, Vontobel notified the BB Biotech board that it was willing to make an offer that would enable shares of BB Biotech to be exchanged for shares of an investment fund that would be newly established but would contain the same assets.

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