Overview
- Oxford Biomedica said it is in preliminary discussions with EQT following an unsolicited approach for a possible take-private deal.
- EQT has until 11 February to declare a firm intention to make an offer or walk away, according to the company’s statement.
- Evercore and Jefferies have been appointed as advisers to Oxford Biomedica for the process.
- The company disclosed that earlier unsolicited proposals from EQT were rejected as undervaluing the business and its prospects.
- Shares rose sharply after the talks were confirmed, with the FTSE 250 group valued at about £900 million and no certainty that any firm offer will be made.