Recommended Acquisition by BTG plc of Biocompatibles International plc
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Summary
The Boards of BTG and Biocompatibles are pleased to announce that they have reached agreement on the terms of a recommended proposal whereby BTG will acquire the entire issued and to be issued share capital of Biocompatibles.
Both Boards believe that the transaction will create a fast-growing, financially stronger, international specialist healthcare business.
The BTG Board views the acquisition of Biocompatibles as an excellent opportunity to combine Biocompatibles' fast growing specialist products with BTG's existing commercial infrastructure. The enhanced resources of the Enlarged Group will allow accelerated investment in Biocompatibles' products and development pipeline. The Biocompatibles Board views the acquisition by BTG as an excellent opportunity to exploit further the potential of the strong platform which has been built to date. Biocompatibles Shareholders will benefit from a successful company with a broad portfolio of products (both directly marketed and partnered) and the significant upside potential in the combined development pipeline.
Defined terms used in this announcement have the meanings set out in Appendix IV to this announcement.
Enquiries:
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BTG |
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Biocompatibles |
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Rothschild (financial adviser and joint sponsor to BTG) |
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J.P. Morgan Cazenove (joint sponsor and corporate broker to BTG) |
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Piper Jaffray (financial adviser to Biocompatibles) |
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Nomura Code (corporate broker to Biocompatibles) |
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Financial Dynamics (financial public relations adviser to BTG) |
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Anna Keeble (financial public relations adviser to Biocompatibles) |
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