I. COMPLETED MERGERS AND ACQUISITIONS | |||||
Company Acquired* | Acquired By | Date | Date | Value | Terms/Details |
| | |||||
ADF Chimie | Atrium Biotechnologies Inc. (subsidiary of AEterna Laboratories Inc.; Canada; AELA; TSE:AEL) | 5/1 | 5/1 | C$3 (US$1.9) | Atrium acquired ADF Chimie for C$3M |
Amersham Biosciences (subsidiary of Amersham plc; UK) | Amersham plc | 3/12 | 3/31 | 704 (US$1B) | Amersham purchased the shareholding held by Pharmacia in Amersham Biosciences, giving it full ownership; Pharmacia's stake is 45%; Amersham paid US$1B in cash for the stake |
BioCrine AB* | BioStratum | 4/29 | 4/29 | ND | BioStratum acquired BioCrine in a stock-for-stock transaction |
Biological Laboratories Europe Ltd.* | Charles River Laboratories International Inc. (NYSE:CRL) | 6/10 | 6/10 | 25 (US | Charles River acquired Biological Laboratories for 25M (US$23.6M) in cash |
Biotie Therapies | Oy Contral | 4/24** | 7/1 | ND | The companies merged when Contral Pharma successfully raised a minimum of 15M (US$13.5M) in a private placement by the end of June |
Collateral Therapeutics | Schering AG (Germany) | 3/20 | 7/3 | $140 | Schering acquired Collateral in a $140M stock-for-stock acquisition; each Collateral share was converted into the right toreceive 0.1847 of Schering American depositary receipts; Collateral's stockholders voted to approve the merger in July, making Collateral a wholly owned subsidiary of Schering |
Eliance Biotechnology | MacroGenics | 6/7 | 6/7 | ND | MacroGenics acquired Eliance by way of an undisclosed equity exchange |
Europeptides GEIE* (France) | Ardana Bioscience Ltd.* (UK) | 7/17** | 7/17** | 28 (US$28.3) | Ardana acquired Europeptides for US$28.3M |
GeneMax Pharmaceuticals Inc.* | GeneMax Corp. (OTC BB:GMXX) | 7/15 | 7/15 | $91.92 | GeneMax closed the acquisition of GeneMax Pharmaceuticals, which required the issue of about 15.32M shares, valued at $91.92M according to the July 15 closing stock price of $6 |
George A. | Novozymes A/S (Denmark; CSE:KFX) | 6/13 | 6/13 | ND | Novozymes acquired for an undisclosed amount George A. Jeffreys, a company that researches, produces and sells naturally occurring microorganisms and enzymes |
Global Genomics Capital Inc.* | CytRx Corp. | 2/11 | 7/18 | $6.28 | CytRx merged with Global Genomics in a deal valued at $6.28M; CytRx acquired all outstanding shares and rights to acquire shares of capital stock of Global Genomics by issuing a maximum of 9.963M shares of its common stock |
Immunex Corp. (IMNX) | Amgen Inc. | 12/17 | 7/16 | $10.3B | Amgen acquired Immunex for about $10.3B; each share of Immunex stock was exchanged for a fixed ratio of 0.44 shares of Amgen stock and $4.50 in cash; Amgen's shareholders own about 81% of the combined company |
InterBio* | Novozymes | 7/2 | 7/2 | ND | Novozymes acquired for an undisclosed amount InterBio |
Oxo Chemie AG* (Switzerland) | Dimethaid Research Inc. (Canada; TSE:DMX) | 5/15 | 5/31 | $37 | Dimethaid acquired Oxo Chemie for about $37M in cash and stock; payments will be made through 2006 |
Prolifix Ltd.* | TopoTarget | 6/12** | 6/12** | ND | TopoTarget acquired Prolifix in a combined cash and shares deal |
Rhein Biotech | Berna Biotech | 5/23 | 7/19 | 279 (US$257) | Berna Biotech acquired Rhein Biotech in a combined cash and shares deal valued at US$257M; Rhein Biotech shareholders were offered 1.42 Berna Biotech shares plus 33.75 in cash per Rhein Biotech share |
Synapse Technologies | BioMarin Pharmaceutical Inc. (BMRN) | 1/14 | 3/21 | $10.2 | BioMarin bought Synapse for about $10.18M by exchanging 885,275 shares of its common stock; BioMarin also will make payments of up to $5.1M in either cash or stock upon reaching certain milestones |
VitaResc Biotech AG* (Germany) | Curacyte AG* (Germany) | 6/10 | 6/10 | $5 | Curacyte merged with VitaResc and will now operate under the Curacyte name; investors from both companies committed US$5M for the merger |
Xzillion Proteomics & Co. KG (division of Aventis Research and Technologies GmbH & Co. KG) | Proteome | 5/31 | 7/9 | 12.6 (US$19.5) | Proteome acquired Xzillion with 18M new ordinary shares for about US$19.5M |
II. PENDING MERGERS AND ACQUISITIONS |
|||||
Company | Acquiring Company* (Country; Symbol) | Date | Expected | Value | Terms/Details |
| | |||||
Arcos BioScience | CyThera Inc.* | 4/10 | 4Q:02 | ND | The companies signed a binding letter to merge; no further details were disclosed |
Bio Therapeutics | Nutra Pharma Corp. (OTC BB:NPHC) | 5/31 | ND | $50 | Nutra Pharma plans to buy 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 |
Biotrin Holdings | Meridian Bioscience Inc. (VIVO) | 5/23 | 3Q:02 | ND | Meridian plans to acquire Biotrin for both cash and provisions for future earnouts |
Plasma Products division of | Octapharma | 7/1 | 3Q:02 | ND | Octapharma plans to acquire the division for an undisclosed price |
Genomic | Harvard Bioscience Inc. (HBIO) | 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 |
Genset SA | Serono SA (NYSE:SRA) | 6/26 | ND | 107.4 (US$105.7) | Serono plans to acquire Genset with a cash offer of US$105.7M |
Glyko Biomedical Ltd. (Canada; OTC BB:GLYK; TSE: GBL) | BioMarin Pharmaceutical | 2/7 | ND | $142.4 | BioMarin plans to acquire all of the outstanding shares of Glyko; Glyko's common shareholders will be entitled to receive 11.37M shares of BioMarin |
HDM Diagnostics & Imaging Inc.* | IBEX Technologies Inc. (Canada; TSE:IBT) | 6/27 | 3Q:02 | C$1.34 (US$0.89) | IBEX plans to acquire HDM with an initial payment of C$0.5M (US$0.331M) and 2M IBEX shares valued at C$0.84M (US$0.56M) |
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 |
Pharmacia Corp. (NYSE:PHA) | 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 |
Reliant Pharmaceuticals LLC* | Alkermes Inc. | 3/21 | ND | $934 | Alkermes plans to acquire Reliant in a stock deal worth about $934M; Alkermes will issue about 31.1M shares |
III. TERMINATED MERGERS AND ACQUISITIONS | |||||
Company | Acquiring Company* (Country; Symbol) | Date Announced | Date Of | Value | Terms/Details |
| | |||||
Digene Corp. | Cytyc Corp. | 2/19 | 7/1 | $554 | Cytyc planned to acquire Digene by issuing 23M shares of common stock and paying $76.9M in cash for all outstanding equity of Digene; Digene decided to terminate the agreement after the U.S. Federal Trade Commission informed the companies that it would seek an injunction to block the closing |
Elasticated Adhesive Technologies | Galaxy Investments Inc. (OTC BB:GAXI) | 3/7 | 6/27 | $2.5 | Galaxy executed a letter of intent to acquire 100% of the issued and outstanding capital stock of E.A.T. in exchange for the issuance of 10M restricted common shares and up to 10,000 preferred common shares of Galaxy; companies terminated the agreement in June |
SIGA Technol- | Allergy Therapeutics Holdings Ltd.* (UK) | 3/11 | 7/3 | ND | The companies planned to merge in a stock-for-stock deal, but the plan was terminated due to unfavorable conditions in the financial markets |
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Notes: | |||||
# 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 April 26, but that were not listed in the previous chart as completed. | |||||
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. | |||||
* Private companies are indicated with an asterisk. | |||||
** Denotes the date the item ran in BioWorld International. | |||||
*** 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. | |||||
ND = Not disclosed, reported and/or available. | |||||
Unless otherwise indicated, shares are traded on Nasdaq. | |||||
CDNX = Canadian Venture Exchange; CSE = Copenhagen Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over the Counter Bulletin Board; SWX = Swiss Stock Exchange; TSE = Toronto Stock Exchange | |||||
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