Swiss healthcare firm Roche has said its US$1.5 billion takeover of US biopharmaceutical company Poseida Therapeutics will be completed on Wednesday.
Roche on Wednesday said it had been accepted for payment on 65 million shares in Poseida, which specialises in complex immune cell therapies for types of blood cancer.
This equated to 66% of the California-based firm’s capital and valued the deal at US$1.5 billion.
Shareholders had tendered the shares at US$9, with Roche also making additional payments of up to US$4 for each.
Remaining shares not owned by Roche or Poseida would be converted into the right to receive the same consideration, it added.
“Later today, Roche intends to complete the acquisition of Poseida,” the Swiss firm said, through subsidiary Blue Giant Acquisition Corp.
No meeting or vote would take place for shareholders, Roche added, with the acquisition having first been unveiled in November.
Roche climbed 1.3% on Tuesday, while Poseida shares were trading up 0.5% ahead of trading and the takeover’s completion.