Comment on Withdrawn Non-Binding Offer

Rhea-AI Summary

Evotec SE acknowledges Halozyme Therapeutics Inc.'s withdrawal of its non-binding proposal to acquire Evotec for EUR11.00 per share in cash. The proposal was initially submitted on November 13, 2024. Evotec's Management Board and Supervisory Board, along with advisors, were in the process of evaluating the proposal when it was withdrawn. The company's leadership maintains strong confidence in their standalone strategy, which they believe will drive growth, enhance long-term profitability, and create significant shareholder value.

Positive

• None.

Negative

• Withdrawal of acquisition offer at EUR11.00 per share, potentially impacting short-term stock value
• Loss of immediate premium opportunity for shareholders that would have come with the acquisition

News Market Reaction – EVO

-16.07%

1 alert

-16.07% News Effect

On the day this news was published, EVO declined 16.07%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAMBURG, GERMANY / ACCESSWIRE / November 22, 2024 / Evotec SE (Frankfurt Stock Exchange:EVT)(SDAX/TecDAX, Prime Standard, ISIN: DE 000 566480 9, WKN 566480)(NASDAQ:EVO)

Evotec SE has taken notice of the statement made by Halozyme Therapeutics Inc. on 22 November, stating that it has withdrawn its non-binding proposal to acquire Evotec SE (NASDAQ:EVO) ("Evotec") for EUR11.00 per share in cash.

The Management Board and Supervisory Board of Evotec, together with its advisors, have been in the process of thoroughly assessing the Non-Binding Proposal submitted by Halozyme in a letter dated 13 November 2024, in which it expressed an interest in a combination of Halozyme with Evotec.

The Management Board and Supervisory Board continue to have strong conviction in the Company's standalone strategy, which is expected to accelerate growth, strengthen the long-term profitability of the Company and deliver significant value to shareholders.

- End of the ad hoc release -

Contact: Volker Braun, EVP Head of Global Investor Relations & ESG, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49 (0) 151 1940 5058 (m), volker.braun@evotec.com

SOURCE: Evotec SE

View the original press release on accesswire.com

FAQ

What was the price per share offered by Halozyme to acquire Evotec (EVO)?

Halozyme offered EUR11.00 per share in cash to acquire Evotec SE.

When did Halozyme withdraw its offer to acquire Evotec (EVO)?

Halozyme withdrew its non-binding offer on November 22, 2024.

When was the original acquisition proposal for Evotec (EVO) submitted?

The non-binding proposal was submitted by Halozyme on November 13, 2024.