SEOUL (dpa-AFX) - PolyPeptide Group AG (PPGN.SW), a Switzerland-based contract development and manufacturing organization said Monday that South Korea's Samsung Biologics Co.,Ltd. (207940.KS) has launched a tender offer to acquire the company in an all-cash deal valued about CHF 1.46 billion. The company also provided preliminary first-half results.
Under the terms of the offer, Samsung Biologics will pay CHF 44.31 per share, a 40% premium to PolyPeptide's unaffected closing share price of CHF 31.65 on April 10, 2026, the last trading day before market speculation about a potential transaction emerged.
PolyPeptide's board of directors has unanimously recommended that shareholders accept the offer, citing the strategic and financial benefits of the transaction. The recommendation is backed by an independent fairness opinion from IFBC AG, which concluded that the offer price is fair from a financial standpoint.
PolyPeptide's largest shareholder, Draupnir Holding B.V., which owns approximately 55.65% of the company's outstanding shares has committed to tender all of its shares into the offer.
The acquisition is subject to customary closing conditions, including regulatory approvals and a minimum acceptance threshold of 66?% of PolyPeptide's fully diluted share capital.
Additionally, the company said it recorded a net profit of about €9.00 million for the first half, compared with a net loss of €26.50 million in the first half of 2025.
Revenue climbed 41.6% year over year to €236.60 million, driven by strong demand for metabolic therapeutics. Revenue from that segment rose to €161.70 million and accounted for roughly 68% of total sales, up from about 56% a year earlier.
Sales to large pharmaceutical customers also grew strongly, contributing around 72% of total revenue compared with approximately 62% in the prior-year period.
PolyPeptide shares closed at CHF 41.75 on Friday, down 7.84 on the SIX Swiss Exchange.
Samsung Biologics shares are currently down nearly 3% at KRW 1,347,000 on the Korea Exchange.
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