Sept 21 (Reuters) – Australia’s Telix Pharmaceuticals said on Monday it has agreed to acquire Germany-based ITM Isotope Technologies Munich SE for about $1.65 billion on a cash- and debt-free basis.
After adjustments, ITM shareholders are expected to receive about $1.25 billion in Telix shares at $11.84 per share.
ITM’s commercial-scale and profitable isotope production business significantly contributes to cash generation while deepening Telix’s supply chain of isotopes for its therapeutics pipeline, the Australian firm said.
Upon completion, Telix shareholders will own about 76.3% of Telix shares, while ITM shareholders will own around 23.7%.
(Reporting by Sneha Kumar in Bengaluru; Editing by Aurora Ellis and Clarence Fernandez)
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