The board of the Icelandic pharmaceutical company Actavis has endorsed the takeover offer from the Icelandic investment company Novator, made last week for EUR 1.075 (USD 1.45) per share.
Economic analysts have issued a report stating the offer is reasonable. Actavis’ current share price is ISK 88.50 (USD 1.40, EUR 1.04), so Novator’s offer is over the company’s market value, Bladid reports.
Novator is owned by Björgólfur Thor Björgólfsson, who is also the chairman of Actavis’ board. If all shareholders accept the offer, Actavis will be delisted from the Nordic Stock Exchange (OMX).