Luxembourg And ZUG, Switzerland, November 16, 2020 / PRNewswire / – Covis Group S.à rl (“Covis”) today, through a successful tender offer of all outstanding shares of AMAG common stock, AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) announced the completion of the acquisition. $ 13.75 Cash per share and subsequent merger. The joint organization will operate as part of the Kovis Pharma Group and will be led by the CEO of Kovis Michael porter.
In addition to AMAG’s range of leading treatment and development-stage assets in women’s health and hematology / oncology, Kovis supports the implementation of Strategic’s vision to expand patients’ lives by expanding their portfolio of the ‘best’ in the company’s products. Increased ability to influence. Attractive new therapeutic areas. In addition, Kovis will be deployed to further patients, based on their track record of efficient and effective management of therapeutic solutions.
“The acquisition of AMAG represents an important milestone for Kovis, fulfilling our strategic vision to become a leading global specialty pharma company for life-threatening and chronic diseases for both commercial and development assets. is,” Michael porterCovis’s CEO “AMAG’s expertise and core products – Ferrame®, Makena® and Sperpentag-Covis add tremendous value as we implement our mandate to expand patient access. We will continue the interests of patients first and look forward to collaborating with the FDA to ensure that Makena remains available as an option for appropriate patients. More than ever, we are positioned to continue the growth of our therapeutic portfolio globally and look forward to further enhance our capabilities and offerings. We are excited to work with our designated transition teams to execute our integration plans and move forward as a strong, integrated organization. “
Tender offer expired 12:00 AM, Eastern Time, On November 12, 2020 (One minute later 11:59 PM Eastern Time, On 12 November, 2020). The tender offer stipulates that the majority of the outstanding shares of AMAG common stock be validly tendered and not withdrawn and satisfied, accordingly, all such validly tendered shares accepted for payment was done. Following the expiration of the tender offer, Kovis Marrsko Inc. merged with AMAG pursuant to Section 251 (h) of the General Corporation Law of the State of Delaware. As a result of the merger, each share of AMAG was not validated in the tender offer (other than shares held by any stockholder of AMAG who sought the valuation of such shares under appropriate provisions Delaware Law) was repealed and converted into the right to receive $ 13.75 Per share in cash, and AMAG became an indirect wholly owned subsidiary of Kovis. Shares of AMAG will cease trading on the NASDAQ.
Goldman Sachs & Company LLC acted as special financial advisor, and Goodwin Proctor LLP acted as legal advisor to AMAG. Paul, Weiss, Refined, Wharton, and Garrison LLP acted as legal advisors to Covis. Financing for this transaction has been provided by investment funds and accounts managed by Capital One, NA and HPS Investment Partners, LLC.
Covis has its headquarters Luxembourg With operation in zug, Switzerland And is a global specialty pharmaceutical company that markets therapeutic solutions to patients with life-threatening conditions and chronic diseases. Additional information is available at www.covispharma.com.
Caution statement regarding forwarding details
This communication consists of forward-looking statements. The forward-looking statements relate to future events or the future financial performance of Kovis. Kovis generally forwarded terminology statements such as “may”, “wish,” “should,” “hopes,” “plan,” “anticipate,” “,” “target,” “projects,” Identifies “” Thinker, “” belief, “” anticipate, “” predicts, “” potential “or” continue “or negatives of these words or other similar words. These statements are only predictions. Kovis said the future events and Based on these forward-looking statements about financial trends as well as these then expectations and assumptions about management’s beliefs and assumptions. Forward-looking statements are subject to many risks and uncertainties, many of which involve such factors or circumstances Which are beyond Kovis’ control. Kovis’s actual results may vary significantly from those contained in forward-looking statements due to a number of factors, including but not limited to: merger transactions. Risks associated with the joint organization after completion of the program, including difficulties in executing Kovis’ strategic vision., Continuing to enhance Kovis’ therapeutic portfolio and Kovis’ capabilities and offerings; any legal proceedings that result from the merger transaction Set up against related parties and others Can get; Kovis ‘inability to impact patients’ lives by expanding their portfolio of ‘best in class’ products into attractive new therapeutic areas; Covis is not being deployed to further support patients, and is failing to efficiently and effectively manage therapeutic solutions; Kovis is not able to fulfill its strategic vision of becoming a leading specialty pharma company globally for both business and development assets, as a life-threatening and chronic disease, leading to Kovis’ business, financial results And material may have adverse effects on operations; Kovis failed to cooperate with the FDA to ensure that Makena is available as an option for appropriate patients; Risks associated with Makena’s withdrawal, including the impact on Kovis’ financial results; Kovis has failed to develop its therapeutic portfolio globally and enhance its capabilities and offerings; Kovis is unable to execute its integration plans, resulting in synergies or failure to achieve a more integrated, robust organization; And unforeseen difficulties or expenses related to merger transactions, feedback from business partners and competitors to complete merger transactions, and / or potential difficulties in employee retention as a result of the merger’s completion. Accordingly, you should not rely on forward-looking statements as a predictor of future events. Kovis cannot assure you that events and circumstances reflected in forward-looking statements will be received or occur, and actual results may differ significantly from those anticipated in forward-looking statements. The forward-looking statements in this communication relate only to the events on which the statements are made. COVIS undertakes no obligation to update any forward-looking statements to reflect the events or circumstances upon which the statement is made or the occurrence of unforeseen events.
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