Samsung Biologics (KRX: 207940), through its direct Swiss subsidiary Samsung Peptide AG, opened Tuesday September 15, 2026 the main offer period for its public tender for all publicly held registered shares of PolyPeptide Group AG (SIX: PPGN). Terms: CHF 44.31 net in cash per PolyPeptide share, implied aggregate equity value of approximately CHF 1.46 billion (approximately $1.8 billion at prevailing FX). The main offer period runs September 15 through October 12, 2026 at 4:00 p.m. Central European Time. Closing conditions: 66⅔% minimum acceptance threshold on a fully diluted share count (excluding treasury shares), plus customary regulatory approvals. Draupnir Holding B.V. — PolyPeptide's largest single shareholder with approximately 55.65% of outstanding shares — has committed to tender all of its shares. PolyPeptide's independent directors unanimously recommend acceptance based on an independent fairness opinion from IFBC AG. The price represents a 40% premium to the April 10, 2026 closing price and an 11.6% premium to the 60-day volume-weighted average price prior to the July 20 pre-announcement. Transaction close is targeted for end of 2026, after which Samsung intends to squeeze out remaining minorities and delist PolyPeptide, folding the Malmö, Limhamn, Strasbourg, Braine-l'Alleud, and Torrance sites into Samsung's Incheon multi-modality footprint. The transaction consolidates one of the top three global peptide CDMO capacity positions alongside Bachem and CordenPharma.
The Samsung Biologics tender offer for PolyPeptide Group AG (announced July 20 at CHF 44.31 per share, CHF 1.46 billion / $1.8 billion, 40% premium) continued through Sunday September 6, 2026 in the 10 SIX Swiss Exchange trading-day cooling-off period that began September 1 following Samsung Peptide AG's August 31 publication of the formal tender offer prospectus. Under Swiss takeover law, the main offer period commences Tuesday September 15, 2026 and runs through October 12, 2026 at 4 p.m. Swiss time. Closing conditions include a 66⅔% minimum acceptance threshold plus customary regulatory approvals. Draupnir Holding B.V. (approximately 55.65% of PolyPeptide shares outstanding) has committed to tender all of its shares. Transaction close is targeted for end of 2026, after which Samsung intends to squeeze out remaining minorities and delist PolyPeptide, integrating the Malmö, Limhamn, Strasbourg, Braine-l'Alleud, and Torrance sites into Samsung's Incheon multi-modality footprint. The transaction will consolidate one of the top three global peptide CDMO capacity positions alongside Bachem and CordenPharma.
Samsung Biologics (KRX: 207940), through its Swiss subsidiary Samsung Peptide AG, published Monday August 31, 2026 the formal tender offer prospectus for all publicly held registered shares of PolyPeptide Group AG (SIX: PPGN) on SIX Swiss Exchange. Terms: CHF 44.31 net in cash per share (implied equity value approximately CHF 1.46 billion / $1.8 billion, a 40% premium to the CHF 31.65 undisturbed share price of April 10, 2026). The cooling-off period runs 10 SIX trading days from September 1, and the main offer period commences September 15, 2026 through October 12, 2026 at 4 p.m. Swiss time. Draupnir Holding B.V. (approximately 55.65% of PolyPeptide shares) has committed to tender all shares. Closing conditions include a 66⅔% minimum acceptance threshold plus customary regulatory approvals; transaction close is targeted for end of 2026. Samsung intends to squeeze out remaining minorities and delist PolyPeptide post-close, integrating the Malmö, Limhamn, Strasbourg, Braine-l'Alleud, and Torrance sites into the Incheon multi-modality biologics footprint.
Samsung Biologics' all-cash tender offer to acquire PolyPeptide Group AG for CHF 44.31 per share (CHF 1.46 billion / $1.8 billion, representing a 40% premium to the undisturbed share price of CHF 31.65) continues to progress. The formal tender offer prospectus is expected to be published by end of August 2026 and will remain open for a minimum of twenty trading days on the SIX Swiss Exchange following a ten trading-day cooling-off period under Swiss takeover law. PolyPeptide's largest individual shareholder Draupnir Holding B.V. (owning approximately 55.65% of shares outstanding) has committed to tender all of its shares into the offer. PolyPeptide's independent Board of Directors unanimously recommends that shareholders accept Samsung Biologics' offer. The transaction would substantially expand Samsung Biologics' peptide CDMO manufacturing footprint beyond its existing antibody and antibody-drug conjugate focus, positioning the combined entity to address the rapidly growing peptide therapeutics demand particularly in obesity and diabetes GLP-1 therapies (Novo Nordisk Wegovy and Ozempic, Eli Lilly Zepbound and Mounjaro), amylin analogs (cagrilintide), and next-generation combination peptide drugs. PolyPeptide operates commercial-scale peptide API manufacturing across the US, Europe, and India. Closing is expected towards the end of 2026 subject to a minimum acceptance threshold of 66⅔% and applicable regulatory approvals.