Telix Pharma Acquires ITM Isotope in $1.65 Billion Cross-Border Finance Deal
Major Acquisition in the Pharmaceutical Sector
Deal Overview
Sept 21 (Reuters) - Australia's Telix Pharmaceuticals said on Monday it has agreed to acquire Germany-based ITM Isotope Technologies Munich SE for about $1.65 billion on a cash- and debt-free basis.
Shareholder Impact and Transaction Structure
After adjustments, ITM shareholders are expected to receive about $1.25 billion in Telix shares at $11.84 per share.
Strategic Benefits and Supply Chain Enhancement
ITM's commercial-scale and profitable isotope production business significantly contributes to cash generation while deepening Telix's supply chain of isotopes for its therapeutics pipeline, the Australian firm said.
Post-Acquisition Ownership Structure
Upon completion, Telix shareholders will own about 76.3% of Telix shares, while ITM shareholders will own around 23.7%.
Reporting and Editorial Credits
(Reporting by Sneha Kumar in Bengaluru; Editing by Aurora Ellis and Clarence Fernandez)
