Evotec Said to Tap Advisers as Slump Sparks Takeover Fears

 

• Buyout firms have been studying Evotec as potential target
• Shares of Evotec had fallen about 66% since start of year

German drug developer Evotec SE is speaking to defense advisers after a decline in its share price prompted fears about the company’s vulnerability to a takeover, people with knowledge of the matter said.

Multiple buyout firms have been studying Hamburg-based Evotec as a potential target, the people said, asking not to be identified because the information is private. Potential suitors are in the early stages of speaking to advisers as they evaluate Evotec and its drug pipeline, according to the people.

https://www.bloomberg.com/news/articles/2024-06-20/evotec-is-said-to-speak-to-defense-advisers-after-stock-decline