EQT AB has decided not to proceed with a takeover offer for Oxford Biomedica, according to a report by Reuters, after previous plans were rejected on the grounds that they undervalued the business.
The Swedish private equity firm reportedly made four takeover proposals, including two all-cash offers and an option involving unlisting shares. Oxford Biomedica’s shares had climbed to their highest level since 2022 in January, following disclosure of EQT’s takeover interest. Shares subsequently fell nearly 10% in premarket, following the news.
Oxford Biomedica, a gene and cell therapy company, was spun out of the University of Oxford in 1995. It said it expects annual revenue to come in at the top end of its guidance.
