By Anthony O. Goriainoff
Poolbeg said it agreed with Hookipa Pharma to extend the deadline for the latter to submit a formal takeover offer.
The London-listed pharma company said Thursday that the new deadline for Hookipa to either make an offer for the company or walk away has been extended to Feb. 27. It was previously set for 1700 GMT today but extended so that talks could continue and due diligence could be completed.
Poolbeg said on Jan. 2 that it was in talks with Nasdaq-listed biopharmaceutical company Hookipa over an all-share takeover that would give shareholders 55% of the enlarged group.
Under the deal being discussed, accepting Poolbeg shareholders would get 0.03 Hookipa shares for each Poolbeg share held.
Poolbeg shares are up 0.05 pence, or 1%, at 5.25 pence in morning trade in Europe. However, they are down 26% over the year to date and 33% lower over the past three months.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
January 30, 2025 04:51 ET (09:51 GMT)
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