Shares in Evotec (NASDAQ: EVO) soared 22% on Monday after private equity firm Triton confirmed a close to 10% stake in the German drug development company, and a media report said it was weighing a takeover bid.
Triton now holds a 9.99% stake in Evotec, making it its biggest shareholder, the companies told Reuters.
Bloomberg News reported that Triton was exploring a potential buyout, citing people familiar with the matter.
Triton and Evotec declined to comment on the Bloomberg report.
Earlier on Monday, Evotec said that Triton building a stake had no impact on its day-to-day operations after regulatory filings showed it had raised its stake to 3% on November 4 and to 9% as of November 5.
Evotec’s other major shareholders are Novo Nordisk (NYSE: NVO) parent Novo Holdings and Mubadala Investment.
Triton’s other investments range from pharmaceutical companies Bormioli Pharma and Clinigen to tank gearbox manufacturer Renk.
If Monday’s gains hold, the Evotec (NASDAQ: EVO) shares will see their biggest daily increase since April 2003. The session’s gains narrowed its year-to-day losses to around 56%, from 64% at Friday’s close.
(Source: Reuters)
