Samsung Biologics Tender Offer Main Period Opens Tuesday September 15 for PolyPeptide at CHF 44.31 per Share / CHF 1.46 Billion Total Cash; Draupnir Holding Committed With 55.65% Stake
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.