BUZZ - Pharmaceutical group Egetis shares soar after receiving a $547 million acquisition offer from ANI

November 5 - ** Shares of Swedish pharmaceutical company Egetis Therapeutics (EGTX.ST) rose 11% after the company accepted a public cash acquisition offer from ANI Pharmaceuticals (ANIP.O)

** ANI plans to acquire all shares of Egetis for a total of 5.3 billion Swedish kronor ($547 million), with the offer price per share 12.6% higher than Wednesday's closing price of 9.99 kronor

** Egetis recommended the offer to its shareholders, stating that ANI is “well-positioned” to accelerate the commercialization of its Emcitate drug in the United States

** “We believe ANI has the capabilities required to successfully commercialize Emcitate,” said analysts at Van Lanschot Kempen

** The broker considers the offer price fair and added that its announcement came earlier than expected

** Egetis shares have gained 108% so far this year

(1 US dollar = 9.6971 Swedish kronor)

(To facilitate non-native English speakers, Reuters offers automated translations of its reports in several other languages. As automated translation may contain errors or lack required context, Reuters does not guarantee the accuracy of the automated translation. It is provided solely for reader convenience. Reuters accepts no responsibility for any damage or loss caused by the use of automated translation.)