LONDON (dpa-AFX) - The boards of Recipharm AB, Recipharm Holdings Limited and Consort Medical plc have reached an agreement on the terms of a recommended cash offer to be made by Recipharm Holdings for the entire issued and to be issued share capital of Consort. Recipharm Holdings is a wholly-owned direct subsidiary of Recipharm AB.
Under the proposal, each Consort shareholder will be entitled to receive: for each Consort share 1,010 pence in cash. The proposed deal value the entire issued and to be issued ordinary share capital of Consort at approximately 505 million pounds on a fully diluted basis and implies an enterprise value of 627 million pounds.
The Consort Directors said they intend to recommend unanimously that Consort shareholders accept, or procure acceptance of, the offer.
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