(News Bulletin 247) – The title Novacyt is very surrounded on Monday on the Paris Stock Exchange in the wake of the announcement of the planned takeover of Yourgene Health, a British specialist in molecular diagnostics.
At 12:10 p.m., the stock gained 22% in particularly substantial volumes, already representing more than 20 times their daily average for the last four sessions.
In a press release published in the morning, Novacyt indicates that it will submit a friendly offer for the acquisition of Yourgene, which is listed on the London Stock Exchange, on the basis of a price of 0.522 pence in cash, i.e. an amount total of 16.7 million pounds (about 19.5 million euros).
This price represents a premium of more than 167% compared to the last quoted price of 0.195 pence at the close of Friday evening, which caused Yourgene’s share price to soar by more than 140% on Monday.
Novacyt explains that the operation is part of its ‘post-Covid’ strategy aimed at becoming an ‘expanded’ and ‘diversified’ player in the diagnostic professions.
The group emphasizes that the merger project will make it possible to bring together ‘highly complementary’ technologies and know-how while pooling their investments in research and development (R&D) with a view to bringing new products to market and services.
Based in Manchester, Yourgene offers DNA microbiology tools, in particular non-invasive prenatal screening devices (NIPT) especially for Down syndrome (trisomy 21).
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