Hungarian Drugmaker Egis Draws $483M Offer From Servier

Law360, New York (September 24, 2013, 6:33 PM EDT) -- French pharmaceutical company Servier Laboratories, which owns most of Hungarian drugmaker Egis Nyrt, has offered 107 billion Hungarian forints ($483 million) to buy the rest, the companies announced Tuesday.

If the deal goes through, Servier will not change Egis' business strategy but may delist the Hungarian company from the Budapest stock exchange, Servier said. Servier has held a 51 percent stake in Egis since 1995, according to the companies.

Egis put out a statement that it would hold a board meeting to decide how to respond...
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