A group led by Nordic Capital and Permira has increased its takeover offer for Bavarian Nordic, a Danish vaccine maker. The new price is 250 Danish crowns per share, up from the earlier 233 crowns.
So far, only 25.7% of shareholders have accepted the original bid—well below the 75% threshold needed for the deal to go through. The consortium says the updated offer is its “best and final” and will expire on November 5.
Bavarian Nordic, known for making vaccines for mpox and other infectious diseases, is expected to be delisted from Nasdaq Copenhagen if the takeover succeeds, likely in the fourth quarter of 2025. The company’s board unanimously recommended the initial offer, but acceptance didn’t meet the required majority.
This move shows how private equity firms are aggressively pursuing deals in the health sector. Bavarian Nordic’s role in government vaccine programs makes it a strategic target.
The next few weeks are crucial. If enough shareholders agree, the company may move from public to private under new ownership. Otherwise, the bid may fall apart.
