Bayer preparing a bid for Norwegian drug partner Algeta: paper

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Bayer preparing a bid for Norwegian drug partner Algeta: paper

<p><a href="http://news.yahoo.com/bayer-preparing-bid-norwegian-drug-partner-algeta-paper-000658965--finance.html"><img src="http://l.yimg.com/bt/api/res/1.2/4owmuQp9X3B0g6ApChlF2A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-11-26T000658Z_1_CBRE9AP00BW00_RTROPTP_2_BAYER-RESULTS.JPG" width="130" height="86" alt="A plant belonging to Germany's largest drugmaker Bayer is seen in Leverkusen" align="left" title="A plant belonging to Germany's largest drugmaker Bayer is seen in Leverkusen" border="0" /></a>FRANKFURT/OSLO (Reuters) - German pharmaceutical group Bayer is preparing a bid to acquire Algeta, its partner for its prostrate cancer treatment Xofigo, a German newspaper reported on Tuesday. The Frankfurter Rundschau, citing internal documents it obtained, said Bayer would offer 306 Norwegian crowns ($49.9) per share for a Norwegian stock-exchange listed company, referred to in the documents as &quot;Aviator&quot;. The newspaper said it believed this company to be Algeta. This would be a near 16 percent premium to Algeta's closing price on Monday of 264.60 crowns and would value the Norwegian company at 13.4 billion crowns, or roughly 1.63 billion euros.</p><br clear="all"/>

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