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Novartis launches tender offer for Advanced Accelerator Applications

Novartis AG commenced a cash tender offer to purchase all of the outstanding ordinary shares of Advanced Accelerator Applications SA for $41 per ordinary share and $82 per American depositary share.

The outstanding ordinary shares have a nominal value of 10 euro cents each.

The board of Advanced Accelerator had previously approved Novartis' bid to acquire the company and recommended that shareholders accept the offer.

The tender offer will expire at 12 midnight New York time on Jan. 19, 2018, unless extended. Any extension will be disclosed no later than 9:00 a.m. on the next business day after expiry.

The tender offer, which was launched by company unit Novartis Groupe France SA, is subject to certain conditions, but does not include a financing condition.