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Cross-border M&A wizardry produces Valneva from Vivalis & Intercell

 
• By Eleanor Malone

Technology licensing firm Vivalis of France and vaccine company Intercell of Austria have broken new ground for technical sophistication in engineering a cross-border merger agreement that combines elements of financing and preferred share conditionality. The two companies expect to complete their merger of equals next May to form a new company focused on vaccines and antibodies. It will be called Valneva, headquartered in Lyon, France, and listed on the NYSE Euronext in Paris and the Vienna Stock Exchange.

Technology licensing firm Vivalis of France and vaccine company Intercell of Austria have broken new ground for technical sophistication in engineering a cross-border merger agreement that combines elements of financing and preferred share conditionality. The two companies expect to complete their merger of equals next May to form a new company focused on vaccines and antibodies. It will be called Valneva, headquartered in Lyon, France, and listed on the NYSE Euronext in Paris and the Vienna Stock Exchange.

Thomas Lingelbach, Intercell's CEO, told Scrip the two firms had been in talks for 6-7 months but that the length of time reflected the technical complexity of arranging

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