Recommended cash offer sends Consort Medical Plc' stocks 43% higher

  • Nov 18, 2019 GMT
  • Team Kalkine
  • As on November 18, 2019, the Board of Consort Medical Plc announced that they have agreed on the terms of a recommended cash offer from Recipharm, a wholly-owned direct subsidiary of Recipharm AB. Under the proposed agreement, Recipharm will buy each Consort share at a price of GBX 1,010 in cash.
  • The group said that the recommended offer represented a premium of 39.1% from Friday (November 15) closing price of GXB 726 and valuing the company at about £505 million on a fully diluted basis and implies an enterprise value of £627 million.
  • While writing (before the market close, at 02:13 PM GMT), its shares traded 314 points or 43.25% higher at GBX 1,040.0.

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