- Samsung Biologics has published the tender offer prospectus for its proposed acquisition of PolyPeptide Group, with an implied equity value of approximately CHF 1.46 billion.
- PolyPeptide’s board unanimously recommends the offer, while its largest individual shareholder has committed to tender its approximately 55.65% stake.
Samsung Biologics has published the tender offer prospectus for its proposed acquisition of all publicly held registered shares of PolyPeptide Group through its direct Swiss subsidiary, Samsung Peptide AG. PolyPeptide shareholders will receive approximately $54.86 in cash per share (CHF 44.31), representing an implied aggregate equity value of approximately $1.81 billion (CHF 1.46 billion). The offer price represents a 40% premium to PolyPeptide’s unaffected share price on April 10, 2026, the last trading day before media speculation about a potential acquisition.
PolyPeptide’s board, acting through its independent and non-conflicted members, has unanimously recommended that shareholders accept the offer. The recommendation is also supported by an independent fairness opinion from IFBC AG. Draupnir Holding B.V., PolyPeptide’s largest individual shareholder, has committed to tender its approximately 55.65% stake in the company, excluding treasury shares.
The main offer period is scheduled to run from September 15 through October 12, 2026, at 4 p.m. Swiss time. The transaction is subject to a minimum acceptance threshold of 66⅔% on a fully diluted share-count basis, excluding treasury shares, as well as applicable regulatory approvals and other customary conditions described in the offer prospectus.
Following settlement of the offer, Samsung Peptide intends to pursue a squeeze-out of any remaining minority shareholders and delist PolyPeptide’s shares from the SIX Swiss Exchange. The offer price represents a 11.6% premium to PolyPeptide’s volume-weighted average share price over the 60 trading days before Samsung Biologics’ July 20, 2026 pre-announcement.
