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Bayer AG (BAYN.DE) Clinches $2.9 Billion Deal For Norway's Algeta



2/24/2014 7:14:33 AM

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German drug firm Bayer has clinched a $2.9 billion deal to take over Norwegian cancer drug maker Algeta after being tendered 92.17 percent of the shares in a cash offer, the companies said on Monday. Bayer extended the acceptance deadline by two days to Wednesday, Feb. 26, to eliminate any remaining uncertainty. "The acceptance ratio is based on preliminary figures and may be subject to change", a Bayer spokesman said.

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