(MENAFN) Bayer, a German pharmaceuticals giant, has announced its plan of buying the Norwegian cancer treatment specialist Algeta at USD2.6 billion, according to Oman Observer.
Bayer said: "The Bayer group plans to further strengthen its oncology portfolio with the acquisition of Norwegian pharmaceutical company Algeta."
The German group added: "Bayer has reached an agreement with Algeta"s board of directors to make a recommended voluntary public takeover offer to Algeta"s shareholders, and is offering them 362 kronor per share in cash."
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