‘Chiron rejects Novartis takeover offer

Chiron Corporation has decided to reject Novartis’ offer to purchase approximately 58% of shares in Chiron that it does not already own, dubbing the offer “inadequate”.

Novartis, which already has a 42% stake in Chiron, made the offer to purchase the remaining shares on September 1, 2005 for $40 per share, or approximately $4.5 billion in total.

In a statement, Chiron said that it has an ongoing dialogue with Novartis regarding the company’s investment, but said that Chiron had not asked Novartis to make the offer.’

Read more a Chiron rejects Novartis takeover offer

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