Feb 25 (Reuters) – Swedish private equity group EQT said on Wednesday it had decided not to proceed with a takeover offer for Oxford Biomedica, sending the British cell and gene therapy manufacturer’s shares down nearly 10% premarket.
Oxford Biomedica said it had received four proposals from EQT, including two cash offers and an unlisted share option, all of which it rejected for undervaluing the company.
The company’s shares in January reached their highest level since 2022 following the takeover interest from EQT.
Oxford Biomedica, which spun off from the University of Oxford in 1995, expects annual revenue at the top end of its forecast and a return to EBITDA profitability in 2025.
(Reporting by Ankita Bora in Bengaluru; Editing by Shreya Biswas)
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