Nordic Capital, Permira clear final hurdle for Bavarian Nordic takeover
A consortium led by private equity firms Nordic Capital and Permira has received the final regulatory approval needed for its proposed takeover of Danish vaccine maker Bavarian Nordic.
The European Commission's merger control clearance, announced Thursday, removes the last regulatory obstacle for the all-cash offer, which values Bavarian Nordic at approximately 19 billion Danish Krone.
The deal's completion remains subject to other conditions, primarily the acceptance of the offer by at least 75% of Bavarian Nordic's shareholders.
The offer period, which was previously extended to await the EU decision, is set to expire on Oct. 14, according to the company.
If the minimum acceptance level and other conditions are met by the deadline, the buyers expect the transaction to be completed in mid-November.
Bavarian Nordic, a key supplier of mpox and smallpox vaccines, recently reported positive clinical trial results for its mpox vaccine in children.
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