Bayer stock is humming today on rumors that Novartis will mount a buyout of the giant German pharma company. European wire services quoted an offering price of €70 per share (about $94), citing anonymous traders--and giving investors plenty of room to buy Bayer stock. The company currently has a market value of $56.5 billion and the supposed Novartis offer would value it at $73.1 billion.
Adding fuel to the rumors, a Novartis spokesman offered a mere "no comment" rather than a "no" when asked about a Bayer offer. And flush with the cash [1]Â it got from its sale of Gerber to Nestle, the company has said it's looking at possible acquisitions. But some pharmaceuticals analysts said a deal seemed unlikely. Bayer only just completed its acquisition of Schering [2], for one thing, and the quoted price seems a bit high.Â
- read the report [3] from MarketWatch
Related Articles:
NCI cancels Novartis cancer study. Report [4]
Australia bans Novartis' Prexige. Report [5]
Novartis shares slide after Zelnorm gets yanked. Report [6]
Bayer plans to beef up biotech pipeline. Report [7]Â
Links:
[1] http://www.fiercebiotech.com/story/cash-rich-novartis-ceo-mulls-biotech-buyouts/2007-04-16
[2] http://www.fiercebiotech.com/story/bayer-outbids-merck-kgaa-for-schering/2006-03-24
[3] http://www.marketwatch.com/news/story/bayer-rallies-speculation-novartis-buyout/story.aspx?guid=%7B98859FE8-B874-4DD9-8C59-8C1D04C90CA5%7D
[4] http://www.fiercepharma.com/story/nci-cancels-novartis-cancer-study/2007-08-14
[5] http://www.fiercepharma.com/story/australia-bans-novartis-prexige/2007-08-13?utm_medium=nl&utm_source=link
[6] http://www.fiercebiotech.com/story/novartis-shares-slide-after-zelnorm-gets-yanked/2007-04-02
[7] http://www.fiercebiotech.com/story/bayer-plans-to-beef-up-biotech-pipeline/2007-01-02