Tenders to the offer fell below the 90% threshold needed to drive the merger through, and a key part of that was AZ’s refusal to back the offer from Advent International and Singapore’s sovereign wealth fund GIC, according to a Bloomberg report.
AZ’s has an 8% stake the Swedish company which stems mainly from a 2019 deal between the two companies which saw Sobi acquire US rights to Synagis (palivizumab), AZ’s drug therapy for respiratory syncytial virus (RSV) infections, for $1.5 billion in cash and shares.
