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Alliance Pharma PLC on Monday said it has agreed to a final increased cash offer of 64.75 pence per share from Dbay Advisors Ltd and Edmond de Rothschild Equity Strategies IV SLP, also known as Eres IV Fund, valuing the company at £362.0 million. The board has unanimously recommended shareholders approve the deal. The Chippenham, Wiltshire-based distributor of consumer healthcare brands and prescription medicines said the revised bid for the remainder of its shares, up 3.6% from a previous offer of 62.50p per share, represents a 46% premium to Alliance Pharma’s closing price on January 9, the last trading day before the initial offer was announced. It is more than double the closing price of 29.4p on May 8, the day before Dbay first approached the Alliance Pharma board. The bid will be implemented via a court-sanctioned scheme of arrangement, with shareholder meetings set for Thursday this week. Isle of Man-based asset manager Dbay, which already has a 28% stake in Alliance Pharma, has secured approximately 19% support from shareholders eligible to vote on the scheme, including from the directors. Alliance Pharma said the acquisition does not alter its strategic plans for the business, nor its management, employees, or research and development operations. Analysts expect shareholders to accept the deal. ‘The increased offer equates to a 46% bid premium, almost in line with 2024’s UK average,’ noted Russ Mould, investment director AJ Bell. Analysts at Stifel commented: ‘Dbay’s consistent purchasing of Alliance shares and ’take-private’ history means we are unsurprised by the offer. We believe this revised bid will now likely be accepted given the share price performance, the board recommendation and the finality of the offer.’ Shares in Alliance Pharma were up 2.4% at 64.00 pence in London on Monday morning, giving it a market capitalisation of £346.0 million. Copyright 2025 Alliance News Ltd. All Rights reserved.
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