UCB makes offer for Schwartz Pharma

By Lisa Kerner

Charlotte, N.C., Sept. 25 - UCB Pharma said it intends to make a cash and share offer for all the issued and to-be-issued shares in Schwarz Pharma.

Under the terms of the deal, Schwarz shareholders would receive €50 in cash and 0.8735 of one new ordinary share in UCB, valuing each Schwarz Pharma share at €91.1 based on the closing price at Sept. 22.

The Schwarz family, which owns 60% of the issued share capital of Schwarz Pharma, accepted the offer and will hold at least 41.5% of the UCB shares received in the offer until after June 2010.

Combined revenues of UCB and the Monheim, Germany-based Schwarz Pharma will exceed €3.3 billion.

UCB is a Brussels, Belgium biopharmaceutical company.

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