Lonza's Sfr865m block covered in 40 minutes

Aidan Gregory

January 31, 2017 06:00 PM

Lonza_CEO_AP_230x150 — Stefan Borgas, CEO of Lonza, speaks at a press conference in Zurich, Switzerland Monday July 11, 2011. Swiss speciality chemicals maker Lonza says it has made an offer to buy U.S. rival Arch Chemicals for US dlrs 1.4 billion ( 1 billion euro). Lonza says it is offering 47.20 in cash for each share of the Connecticut-based company that produces bacteria-killing chemicals. The Basel, Switzerland-based supplier of chemicals to the pharmaceutical industry says this represents a 36.7 percent premium on Arch Chemicals' average share price over the past month. The deal announced Monday July 11, 2011 is subject to antitrust approval. (AP Photo/Keystone/Steffen Schmidt) GERMANY OUT - AUSTRIA OUT | Steffen Schmidt/AP

Lonza, the Swiss pharmaceuticals company, completed a 9.4% capital increase through a Sfr865m accelerated bookbuild on Tuesday night led by UBS and Bank of America Merrill Lynch, the first step in a two-pronged move to raise Sfr3.3bn for an acquisition.

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Topics

Switzerland UBS Equity Bank of America ABBs-Block Trades Europe EMEA

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Aidan Gregory