I. COMPLETED MERGERS AND ACQUISITIONS | |||||
Company Acquired* | Acquired By | Date | Date | Value (M)** | Terms/Details |
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Arcos | CyThera Inc.* | 4/10 | 8/19 | ND | CyThera acquired Arcos for an undisclosed amount |
Axiom Biotechnologies | Sequenom Inc. | 8/21 | 9/3 | $4.1 | Sequenom acquired Axiom with 1.7M shares, valuing the merger at $4.1M |
Bio Therapeutics | Nutra Pharma Corp. (OTC BB: | 5/31 | 8/22 | $50 | Nutra Pharma purchased Bio Therapeutics for $50M in cash and stock; its major shareholders agreed to retire up to 20M shares of restricted stock in order to facilitate the acquisition |
Plasma products | Octapharma AG* (Switzerland) | 7/1 | 9/30 | ND | Octapharma acquired the division for an undisclosed price |
BML | Endo Pharmaceuticals | 7/29 | 7/29 | $14 | Endo acquired BML for an up-front payment of $14M; upon approval of Immunol, BML would receive a $32M payment and an earn-out based on a percentage of net sales of certain products in BML's pipeline |
Clairus Technologies | Marligen Biosciences | 8/12 | 8/12 | ND | Marligen completed the acquisition of Clairus; terms involved an exchange of Clairus shares for Marligen shares, and Marligen acquired all assets and rights to technologies previously licensed by Clairus; specifics were not disclosed |
Genset SA | Serono SA | 6/26 | 9/23 | €107.4 | Serono acquired Genset with a cash offer of US$105.7M |
Glyko Biomedical | BioMarin Pharmaceutical | 2/7 | 8/22 | $48.45 | BioMarin acquired all of the outstanding shares of Glyko; Glyko's common shareholders were entitled to receive 11.4M shares of BioMarin; the deal was worth $48.45M based on the Aug. 21 closing stock price of $4.25 |
HDM Diagnostics | IBEX Technologies Inc. (Canada; TSE:IBT) | 6/27 | 7/16 | C$1.34 | IBEX acquired HDM with an initial payment of C$0.5M (US$0.331M) and 2M IBEX shares valued at C$0.84M (US$0.56M); IBEX also will make payments of C$400,000 per year for three years, and will make a potential final payment of C$800,000 |
CodeLink | Amersham plc | 7/25 | 7/25 | $20 | Amersham acquired the slides business for $20M |
Origenix Technologies | Micrologix Biotech Inc. (Canada; TSE:MBI) | 9/12 | 9/12 | $0.32 | Micrologix acquired the assets of bankrupt Origenix for $320,000 |
Protein Vision | Quorex Pharmaceuticals | 10/7 | 10/7 | ND | Quorex acquired Protein Vision for an undisclosed amount; Protein Vision shareholders will hold less than a 2% stake in Quorex |
Rosemont Pharmaceuticals | Bio-Technology General Corp. (BTGCE) | 9/20 | 9/30 | £64 | Bio-Technology General acquired Rosemont for US$99M in cash |
Springborn Laboratories | Charles River Laboratories International Inc. (NYSE:CRL) | 10/1 | 10/1 | $27 | Charles River paid $27M to acquire SLI, free of indebtedness and cash; it paid $21M in up-front cash, and issued a three-year, $6M unsecured, subordinated note for the balance of the purchase price |
Visible Genetics | Bayer Corp. (NYSE:BAY) | 7/23 | 10/14 | $61.4 | Bayer acquired Visible Genetics' 19.5M issued and outstanding shares, as well as Series A preferred shares, at $1.50 per share; the entire transaction was worth $61.4M in cash |
II. PENDING MERGERS AND ACQUISITIONS |
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Company | Acquiring | Date | Expected | Value | Terms/Details |
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Asklia Holding | Cytos Biotechnologies | 9/24 | ND | ND | The companies entered a merger agreement in which Asklia shareholders will receive five Cytos shares with a value of CHF0.10, in exchange for one Asklia share |
Biosearch Italia | Versicor Inc. | 7/31 | 1Q:03 | $260.7 | Versicor plans to buy Biosearch for $260.7M in a stock swap expected to close early in 2003 |
Biotrin Holdings | Meridian | 5/23 | 4Q:02 | ND | Meridian plans to acquire Biotrin for both cash and provisions for future earn-outs |
Cohesion Technologies | Angiotech Pharmaceuticals | 9/30 | ND | $42 | Angiotech plans to acquire Cohesion by issuing 1.2M shares, valued at $42M |
eXegenics Inc. | Innovative | 9/20 | 4Q:02 | $46 | The companies plan to merge in a stock-for-stock exchange, with one share of IDDS being exchanged for three shares of eXegenics |
Genomic | Harvard Bioscience Inc. | 7/18 | 4Q:02 | $26 | Harvard Bioscience plans to acquire Genomic Solutions for 3.2M shares and $9M in cash, for a total value of $26M |
Hemoxymed | Molecular Geriatrics | 8/1 | ND | $3.16 | The two companies will merge and shareholders from both parties will each own about 50% of the merged company; thedeal is valued at about $3.16M; Hemoxymed will issue 22.8M shares |
InforMax Inc. | Invitrogen | 10/15 | 4Q:02 | $42 | Invitrogen plans to acquire InforMax in an all-cash transaction valued at $1.36 per share, or about $42M for the fully diluted equity |
InNexus Corp.* | Cusil Venture | 5/6 | ND | $2.02 | Cusil plans to acquire InNexus by issuing 7.914M shares, valued at about $2.02M, based on an April 26 stock price, when trading halted |
IsoTis NV* | Modex Therapeutics | 9/23 | 4Q:02 | €44.5 | The companies plan to merge with IsoTis shareholders being offered 1.4 shares of Modex stock for each share held; they would hold about two-thirds of the equity of the enlarged company |
Oxiquant Inc.* | Adherex Technologies | 10/2 | 4Q:02 | C$18 | Adherex and Oxiquant plan to merge with Adherex issuing about 40M new shares for Oxiquant; the deal is worth US$11.3M |
Pharmacia Corp. | Pfizer Inc. | 7/15 | 4Q:02 | $60B | Pfizer plans to acquire Pharmacia and will give 1.4 shares of its common stock for each outstanding share of Pharmacia stock in a tax-free transaction valued at $45.08 per Pharmacia share; deal is worth $60B |
StemSource | MacroPore | 10/9 | ND | ND | MacroPore will acquire StemSource for about 1.4M shares |
Vascular | GenStar Therapeutics | 9/13 | 4Q:02 | ND | The companies will merge, with VGI becoming a wholly owned subsidiary of GenStar, which will change its name to Autus Genetics Corp.; VGI shareholders will receive shares of GenStar common stock equal to the outstanding GenStar stock; the combined company will have about 38M shares outstanding |
III. TERMINATED MERGERS AND ACQUISITIONS | |||||
Company | Acquiring | Date | Termination | Value | Terms/Details |
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Reliant Pharmaceuticals | Alkermes Inc. | 3/21 | 8/14 | $934 | Alkermes planned to acquire Reliant in a stockdeal worth about $934M, but the companies mutually agreed to terminate the merger due to a poor market and a non-approvable letter for Risperdal |
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Notes: |
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# This chart is intended to include not only mergers and acquisitions of entire businesses, but also of divisions or subsidiaries of those businesses, where appropriate. It does not include acquisitions of single products or of manufacturing facilities and plants. The chart may include some mergers and acquisitions that were completed before July 20, but that were not listed in the previous chart as completed. |
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For those deals that are pending, and for which the acquiring company is issuing stock, the value of the transaction has been calculated based on the closing price on the day prior to the first announcement. For those deals that have been completed, and for which the acquiring company is issuing stock, the final value has been calculated based on the closing price on the date that the merger's completion was announced. |
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* Private companies are indicated with an asterisk. |
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** Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending deals, on the date it was announced. |
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ND = Not disclosed, reported and/or available. |
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Unless otherwise indicated, shares are traded on Nasdaq. |
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AMEX = American Stock Exchange; CDNX = Canadian Venture Exchange; FSE = Frankfurt Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; SWX = Swiss Stock Exchange; TSE = Toronto Stock Exchange. |