Bidding rises to £1.3bn in Clinigen takeover deal

An increased offer for Burton pharma firm Clinigen has been revealed this morning (January 17) with its suitor making its seventh bid for the company.

Triley Bidco, a takeover vehicle set up by Triton Investment Management, has upped its offer for Clinigen from £1.2bn to £1.3bn.

The new bid, says Triley, will “fully reflected the value of Clinigen and its future commercial prospects”.

If the deal goes through, Clinigen stakeholders will receive 925p for each share they own.

The deal was originally revealed in December, but in early September Sky News had reported that activist investor Elliott Management had held talks with Clinigen’s board and pushed for a break-up or sale of part of the business at the same time as its own stake in the group increased above 5%.

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