Novo Holdings Acquires Catalent for $16.5 Billion
Novo Holdings and Catalent have recently announced a merger agreement, with Novo Holdings set to acquire Catalent in a significant deal worth $16.5 billion
On February 5, 2024, Novo Holdings, a company owned by Novo Nordisk Foundation and the parent company of Novo Nordisk, made an announcement about a merger agreement with Catalent. According to the agreement, Novo Holdings will acquire Catalent in an all-cash transaction. Catalent is valued at $16.5 billion in the transaction.
As per the agreement, Novo Holdings has agreed to purchase all the remaining shares of Catalent at a cash price of $63.50 per share. This price represents a premium of 16.5% compared to the closing price of Catalent's common stock on Feb. 2, 2024. The merger is anticipated to be finalized by the end of 2024, subject to the fulfillment of standard closing requirements. After the conclusion, Catalent's shares will no longer be available for trading on the New York Stock Exchange, transitioning the company into a private entity.
Novo Holdings plans to sell three of Catalent's fill/finish sites and related assets to Novo Nordisk once the merger is finalized. There are three locations: Anagni, Italy; Bloomington, Ind., in the United States; and Brussels, Belgium.
In recent years, Catalent has developed a wide range of services and capabilities to foster innovation in the healthcare industry and enhance patient outcomes. I am thrilled about this next step in our journey, which is a result of our team's hard work and dedication to our mission. In a company press release, Alessandro Maselli, president and CEO of Catalent, expressed excitement about the opportunity to leverage Novo Holdings' substantial resources. He emphasized the company's commitment to providing top-notch development and manufacturing solutions for pharmaceutical and biotech customers, and expressed confidence that this partnership will help enhance their key offerings.
Source: Novo Holdings
