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40 North makes “best and final” offer for Grace

The five-month saga in which activist shareholder 40 North Management has sought to take over W.R. Grace & Co. appears set to be resolved one way or another after 40 North made what it described as its “best and final” offer of $70/share on 7 April. This values the company at about $4.6 billion. With Grace’s cooperation, 40 North said, it will be set to sign a definitive agreement within two weeks.

Recipharm board backs takeover bid

The board of Swedish-based CDMO Recipharm has unanimously recommended that shareholders accept a revised offer for the firm from Roar BidCo, a vehicle set up by investment organisation EQT IX and backed by chairman Lars Backsell and CEO Thomas Eldered. The offer period ends on 12 February. Roar BidCo has said that it does not plan any changes to the management team or for employees.

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