Shionogi completes acquisition of Sciele
This article was originally published in Scrip
Shionogihas completed its $1.4 billion acquisition of the US firmSciele Pharma, following the October 8th close of an extended $31 per share cash tender offer. The acquisition vehicle, Tall Bridge, was merged into Sciele, which is now an indirectly wholly owned subsidiary of the Japanese firm. The extended offer raised Shionogi's holding from around 85% at the end of the first offer period to 92%. Remaining shares have been converted into the right to receive cash and Sciele was delisted from Nasdaq on October 9th.
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