|
Instem PLC on Wednesday said it has agreed to a private equity takeover offer that values the life sciences IT company at just above £200 million. Specialist healthcare industry investor Archimed SAS has offered 833 pence in cash per Instem share, valuing the entire company at £203 million. The prices is a 41% premium to Instem’s close on AIM in London on Tuesday of 590p. The stock was up 40% to 826.00p early Wednesday in London. The takeover will be conducted as a scheme of arrangement with newly created Archimed company Ichor Management Ltd. Instem directors unanimously recommend the offer to shareholders and vote for it with their 9.2% stake. Archimed has offices in New York, Singapore and Lyon, France. It has more than €8 billion in assets under management. Instem said the takeover will allow it to take advantage of Archimed’s industry knowledge and network as a healthcare specialist investor. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
