A consortium led by private equity firms Nordic Capital and Permira has agreed to acquire Danish vaccine maker Bavarian Nordic in an all-cash deal valuing the company at approximately 19 billion Danish Krone.
The offer of 233 Danish Krone per share represents a 21% premium to the stock's closing price on July 23, the day before Bavarian Nordic confirmed it was in takeover discussions, the company said Monday.
Bavarian Nordic's board of directors has unanimously decided that it intends to recommend the offer to shareholders.
"The offer received from Nordic Capital and Permira is the result of intense negotiations aimed at securing the best possible terms for our shareholders," said Luc Debruyne, Chair of Bavarian Nordic's Board of Directors.
The buyers said they believe the transaction will enable Bavarian Nordic to accelerate its growth strategy and pursue long-term value creation under private ownership.
The company is a key supplier of mpox and smallpox vaccines to governments for public health preparedness and also has a portfolio of travel vaccines.
The deal is subject to customary conditions, including acceptance by holders of more than 90% of the shares and regulatory approvals, with completion expected in the fourth quarter of 2025.
Following the acquisition, the consortium intends to delist Bavarian Nordic's shares from Nasdaq Copenhagen, according to the announcement.
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