LONDON: On 10 January 2025, Aegros Bidco Limited and Alliance Pharma plc announced a recommended acquisition of Alliance by Bidco, excluding shares held by DBAY Advisors Limited. The deal, valued at approximately £362 million, will be executed through a Court-sanctioned scheme under the Companies Act.
On 31 January 2025, Alliance published a Scheme Document outlining the terms, including a final cash offer of 64.75 pence per share, representing a 3.6% premium over the original offer and significant premiums to historical share prices. The offer is final, with limited exceptions.
Following shareholder feedback, the Court and General Meetings were adjourned to 13 March 2025 to allow further discussions. Bidco has secured irrevocable undertakings and a letter of intent from Slater Investments Limited, covering approximately 13.6% of Alliance’s shares.
The Alliance Directors, advised by Deutsche Numis and Evercore, unanimously recommend shareholders vote in favor of the Scheme. The acquisition aims to preserve Alliance’s strategic plans, including management, employees, and R&D.