From Breakingviews - Swedish drugmaker finds alluring poison pill
On maths alone the deal looks promising. Although SOBI Chief Executive Guido Oelkers is paying a whopping 95% premium for the loss-making group, CTI’s profitability should rapidly rise as Vonjo, a treatment for bone marrow disorders, rolls out. By 2027 it could make $308 million of operating profit according to Visible Alpha, implying a 14% return on invested capital after tax, even before factoring in any cost savings.
Still, investors may have hoped for a more short-term bounty. After all, Advent attempted to buy $6.5 billion SOBI
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