Acino receives $439 million takeover offer

Reuters

* Avista, Nordic to offer 115 Sfr/share

* Acino board fully supports offer

* Funds to help finance Acino's business expansion

ZURICH, Oct 2 (Reuters) - Swiss generic drugmaker Acino said it has accepted a takeover offer from AvistaCapital Partners and Nordic Capital valuing the company at about398 million Swiss francs ($439 million).

The private equity companies will offer 115 Swiss francs pershare representing a 33 percent premium to Tuesday's closingshare price of 86.50 francs, Acino said in a statement. Thecompany's board unanimously supports the tender offer.

Acino, which makes a patch for the symptomatic treatment ofmild to moderate forms of Alzheimer dementia, said the sale willgive the company funds to expand its business, drive salesgrowth and strengthen its competitive position.

"Avista and Nordic Capital are well-suited partners forAcino. They have proven 'buy and build' capabilities and thefinancial resources that will significantly enhance Acino'sgrowth opportunities," said Acino's Chairman Luzi A. von Bidder.

Shares in Acino jumped 31 percent to 113.40 Swiss francs by0847 GMT.

Acino, which has transformed its business from a CentralEuropean pharmaceutical supplier into a diversified drugcompany, has 738 employees and generated 143 million euros($193.42 million) in sales in the first half.

Hakan Bjoerklund, who is also chairman of Lundbeck,is expected to be nominated as chairman of the board of Acino ifthe acquisition is completed.

The tender offer is expected to take place between Oct. 21and Nov. 15. Lazard is acting as lead financial advisor andCredit Suisse as financial advisor in tender offer to Avista andNordic Capital.

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