Novacyt shares were very popular on the Paris Bourse on Monday, in the wake of the announcement of the proposed acquisition of Yourgene Health, a British molecular diagnostics specialist.

At 12.10 pm, the share price had gained 22% in particularly high volumes, already representing more than 20 times its daily average for the last four sessions.

In a press release issued this morning, Novacyt announced that it would make a friendly offer to acquire Yourgene, listed on the London Stock Exchange, for 0.522 pence in cash, representing a total consideration of £16.7 million (around €19.5 million).

This price represents a premium of over 167% to the last quoted price of 0.195 pence at Friday evening's close, which sent Yourgene's share price soaring by over 140% on Monday.

Novacyt explains that the transaction is part of its "post-Covid" strategy to become an "enlarged" and "diversified" player in the diagnostics sector.

The group stresses that the proposed merger will enable the two companies to combine "highly complementary" technologies and know-how, while pooling their R&D investments with a view to bringing new products and services to market.

Based in Manchester, Yourgene offers DNA microbiology tools, in particular non-invasive prenatal screening (NIPT) devices for Down syndrome (trisomy 21).

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