Hypera announced on Wednesday night (30) that the NS group, controller of rival EMS, withdrew its business combination proposal with the company, according to a relevant fact to the market.
The pharmaceutical group stated that “today it received correspondence from NC Farma (…) through which EMS (…) formalized the withdrawal of the proposal for a public offer for the acquisition of shares and business combination presented to Hypera”, according to the document.
Hypera’s board of directors assessed last week that EMS’s offer underestimated the company’s value and unanimously rejected it without starting discussions with the rival.
On October 21, Hypera announced that it had received a business combination proposal with EMS, which involved an offer for up to 20% of the company’s shares at a price of R$30 per share. Hypera shares closed the day before at R$24.10.
If it had been completed successfully, the deal would have created the largest pharmaceutical group in the country, with a strong presence in generics and owner of important brands such as Buscopan, Coristina and Neosaldina.
