Serono's €104.7 cash offer for France's Genset came just in time for the cash-strapped genomics play, once the star of French biotech. Critics claim Serono's 195% premium for an almost-bankrupt company is nothing short of crazy, but Serono reckons it's spotted an unexploited asset.
At first sight, it may look odd for Merck Serono SA to be shelling out €104.7 million ($103 million)—cash—for downtrodden Genset SA . Serono is paying €9.75 per share of Genset and buying out Genset's convertible bonds at a 389% premium [See Deal].
Any way one looks at it, the deal is an expensive, long term investment. Once the pride of French biotech, Genset has disappointed investors over the last two years as...
From billion-dollar COVID antibody to a strategic reset, Marianne De Backer is navigating Vir's comeback through pipeline focus and disciplined leadership.
An interactive look at recent executive-level company changes and promotions in the biopharma, medical device and diagnostics industries.
A Q&A with DeAnn Smith, partner and co-chair of the Patent Trial and Appeal Board Proceedings Practice Group at law firm Foley Hoag.
