Repligen (RGEN) Has Rejected an Initial Takeover Offer from Catalent (CTLT) - Source
- Wall St posts third straight quarterly loss as inflation weighs, recession looms
- Intel's Autonomous Unit Mobileye Files U.S. IPO, Defying Weak Market Conditions
- Nike (NKE) Drops 9% as Inventory Surges 44%, Analysts See Attractive Valuation
- Hollywood Super Agent Attempts to Open Door for Twitter-Musk Settlement - Bloomberg
- Dollar up on euro as quarter ends, commodity led currencies sink
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Repligen (Nasdaq: RGEN), a bioprocessing company with a market capitalization of about $14 billion, hired advisers for takeover defense after rejecting an unsolicited offer from Catalent (NYSE: CTLT), according to a source with knowledge of the matter. Repligen viewed the offer as being too low.
Catalent hasn’t given up its pursuit of the Massachusetts based supplier of bio-engineered drug ingredients and plans to improve its initial offer. It wasn’t clear how much Catalent is planning to bid for Repligen or if the companies will be able reach an agreement.
Repligen posted strong results for the second quarter, quashing concerns about inflation’s impact, with momentum in most areas of its business. It also raised its full-year guidance. The success has caught the attention of at least one of its peers, it appears, but it could also complicate a potential deal, if management feels they are better off building their own empire than being part of another company’s.
Repligen said it has a strict policy not to comment on rumors, in response to an inquiry from StreetInsider. Catalent hasn’t responded.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freshpet (FRPT) hires bankers for possible sale - Barron's
- PG&E Corp. (PCG) Seeks Regulator Approval for Sale of 49.9% of Non-nuclear Unit
- Generali Said To Explore Deal With Us Asset Manager Guggenheim - Bloomberg
Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!