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Cancer drug specialist Clinigen agrees to £1.2bn takeover
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The cancer drug specialist Clinigen has agreed to a £1.2bn takeover deal from a London-based investment firm, becoming the latest big British company to be taken private.
Triton Investment Management has offered to pay 883p a share for the company, whose main product is the acquired cancer medicine Proleukin.
Clinigen, which is based in Burton-on-Trent, Staffordshire, said its board had recommended the offer to shareholders, which include the New York hedge fund Elliott Management, with a 7.6% stake.
The news sent Clinigen’s share price soaring by up to 15% in early trading, though they later settled at at 901p, up 10.2%.
Elliott declined to comment. It has been reportedly demanding a break-up of Clinigen, but never made its demands public –
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