Novator to make takeover bid for Actavis Skip to content

Novator to make takeover bid for Actavis

Investment company Novator, owned by Icelandic billionaire Björgólfur Thor Björgólfsson, has announced takeover plans for the Icelandic pharmaceutical company Actavis.

According to Fréttabladid, the takeover bid will be ISK 85.23 (USD 1.3, EUR 1.0) per share, or ISK 176 billion (USD 2.7 billion, EUR 2.0 billion) in total.

Björgólfsson said the goal with the takeover is to change the company by shortening and simplifying the decision-making process. If Novator takes over Actavis, it will be de-listed from the market.

Actavis’ shares rose by almost 12 percent on the Nordic Stock Exchange in Iceland (OMX) yesterday, closing at ISK 87.50 (USD 1.4, EUR 1.0), more than Novator’s bid.

Click here to read more about Actavis and here to read more about Novator.

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