Crucell completes acquisition of Berna Biotech with 97% of shares tendered

By Angela McDaniels

Seattle, Feb. 22 - Crucell NV said 97% of Berna Biotech AG stock has been tendered under Crucell's exchange offer and, therefore, Crucell's acquisition of Berna Biotech is complete.

Crucell announced the CHF 591 million all-share offer to buy Berna Biotech at CHF 5.72 per share on Dec. 15.

Crucell issued 16,691,492 common shares in connection with the tender and now has 58,112,105 shares outstanding, according to a company news release.

In connection with the acquisition, Crucell began trading on the Swiss Exchange under the symbol "CR" on Wednesday. It also trades on the Euronext Amsterdam under the symbol "CRXL."

Crucell said it intends to pursue, following settlement, the "squeeze-out" of the remaining minority shareholdings and to delist Berna Biotech. The combined company will continue under the Crucell name and be based in Leiden, the Netherlands, where Crucell develops vaccines and antibodies.

Berna is based in Berne, Switzerland, and develops, produces and markets vaccines and immunotherapeutics.

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