0809 GMT - It remains to be seen how Halozyme Therapeutics would fund a potential 2 billion-euro acquisition of German drug developer Evotec, RBC Capital Markets' analysts say in a research note. San Diego-based biopharmaceutical company Halozyme confirmed Thursday it submitted an all-cash bid of 11 euros a share for Evotec. The move means both industry and private-equity players have shown interest in Evotec. Private-equity firm Triton recently built a stake of about 10% in Evotec. This suggests Evotec's shares are depressed, but that there is significant value within the business that can be unlocked, RBC says. Shares in Evotec jump 22% to 10.56 euros. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
November 15, 2024 03:09 ET (08:09 GMT)
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