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Eckert & Ziegler exploring merger with Belgian radiotherapy unit

Eckert & Ziegler Strahlen- und Medizintechnik AG and its unit Eckert & Ziegler BEBIG SA are exploring a merger to simplify group structure and reduce costs.

Germany's Eckert & Ziegler Strahlen- und Medizintechnik, or EZAG, holds an 80.84% stake in Belgium-based Eckert & Ziegler BEBIG, or BEBIG. EZAG provides radioactive compounds to clients across healthcare and industrial sectors, while BEBIG manufactures radiotherapy products for treating cancer.

EZAG, which is listed on the Frankfurt Stock Exchange, would buy BEBIG in an all-stock deal after which the unit would be delisted from the Euronext Brussels. The transaction could involve an exchange of between 4.15 to 5.90 BEBIG shares for each EZAG share, the companies said in a Sept. 5 news release. The exchange figure could change following further analysis and discussion within BEBIG's committee of independent directors.

The boards of both companies are still in talks on whether to recommend the merger to shareholders, who will need to sign off on the possible transaction.