MorphoSys AG recently announced that it has received U.S. antitrust clearance for its proposed acquisition by Novartis AG. This step has been made under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and was completed after the expiration of the HSR Act waiting period.
In addition, MorphoSys has previously announced antitrust clearance in Germany and Austria. Consequently, Novartis's proposed acquisition of MorphoSys has now gained all necessary regulatory approvals.
On February 5, 2024, MorphoSys made public Novartis's intention to submit a voluntary public takeover bid. This offer is for all outstanding MorphoSys bearer shares without par value, at an offer price of EUR 68.00 per share in cash. This bid represents a total equity value of 2.7 billion euros. To go ahead, the takeover offer will need a minimum acceptance threshold of 65% of MorphoSys's share capital, in addition to other typical closing conditions.
Both MorphoSys and Novartis expect the takeover offer to close in the first half of 2024.
