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Norgine to acquire Merus

Norgine HQ in Amsterdam, The Netherlands, © Norgine


by tg

Dutch Norgine BV will take-over Merus Labs International Inc. Under the agreement, Norgine will acquire all outstanding shares for US$1.65 per share in cash.

The transaction of US$342m will be financed through a combination of available cash and new credit facilities that Norgine has secured prior to the agreement. The transaction price of US$1.65 per share represents a premium of 63.4% to the closing price of US$1.01 on the TSX on May 10, 2017 and a premium of 55.1% over the 30-day volume weighted average price of $1.06 on the TSX.  

In 2016, Norgine’s total sales revenue was €295 million. The company is specialised in gastroenterology, hepatology, cancer and supportive  

Rothschild & Co. was acting as financial advisor and Torys LLP was acting as legal counsel to Merus. RBC Capital Markets is acting as financial advisor and Stikeman Elliott LLP is acting as legal counsel to Norgine.   

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