Morningstar - Sirtex Medical Limited (SRX) Sirtex Board Deems China Bid Best for Shareholders and Accepts Higher Offer; Adjusting FVE

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Morningstar

Chris Kallos

Sirtex Board Deems China Bid Best for Shareholders and Accepts Higher Offer; Adjusting FVE

After weeks of deliberation, the board of Sirtex has finally decided to enter a binding scheme implementation deed with China-based CDH Genetech Ltd and China Grand Pharmaceutical and Healthcare Holdings Ltd, or CDH-CGP, at AUD 33.60 per share, valuing the company at around AUD 1.87 billion. This represents a 20% premium to the unchanged AUD 28 per share offer by U.S.-based Varian Medical, announced on Jan. 30, and according to management, follows specialist advice mitigating potential regulator...

15/06/2018 14 EN

Underlying

Sirtex Medical Limited

Sirtex Medical is a global life-sciences company based in Australia. Co. is engaged in developing and delivering effective oncology treatments using novel small particle technology. Co.'s main product is a targeted radioactive treatment for liver cancer called SIR-Spheres® Y-90 resin microspheres. SIR-Spheres Y-90 resin microspheres are a medical device used in interventional oncology and delivered to the liver via Selective Internal Radiation Therapy.

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AU000000SRX1 Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Chris Kallos

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Sirtex Board Deems China Bid Best for Shareholders and Accepts Higher Offer; Adjusting FVE

Monthly LMI Update Independent Investment Research

Feasibility Study Results in December to be a Catalyst for this Junior

Morningstar | Federal Court's Approval Marks the Completion of Sirtex Acquisition

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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