Evotec AG Announces Its Intent to Acquire Cyprotex PLC

HAMBURG, Germany--(BUSINESS WIRE)-- Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced that it has made an offer to acquire Cyprotex PLC (AIM Listing: CRX-GB), a specialist pre-clinical contract research organisation in ADME-Tox and DMPK headquartered in UK. The proposed acquisition, which has been unanimously recommended by the board of Cyprotex, is expected to close before year-end 2016.

Evotec will pay approximately £ 55.36 m (EUR 62.00 m; £/EUR exchange rate of 1.12) in cash for the acquisition of all 26.1 million issued and to be issued Cyprotex shares and the funding of all existing company debt. The offer of 1.60 £ per Cyprotex share reflects a 9.4% premium to the VWAP of the past 30 trading days at AIM. The offer is intended to be implemented by a scheme of arrangement regulated by the UK takeover code, with already >50% shares secured irrevocable.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161026005619/en/

Evotec AG
Dr Werner Lanthaler, Chief Executive Officer
Phone: +49.(0)40.560 81-242
[email protected]

Source: Evotec AG

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