October 18, 2018 / 5:13 AM / a month ago

BRIEF-Endocyte Enters Into Agreement to be Acquired by Novartis AG for $2.1 Billion

Oct 18 (Reuters) - Endocyte Inc:

* ENDOCYTE ENTERS INTO AGREEMENT TO BE ACQUIRED BY NOVARTIS AG FOR $2.1 BILLION

* NOVARTIS TO ACQUIRE ENDOCYTE FOR $24 PER FULLY DILUTED SHARE IN CASH

* TRANSACTION WAS UNANIMOUSLY APPROVED BY THE BOARD OF DIRECTORS OF ENDOCYTE

* THIS OFFER REPRESENTS A PREMIUM OF 54% PERCENT TO ENDOCYTE'S CLOSING PRICE OF $15.56 ON OCTOBER 17, 2018

* UNTIL THAT TIME, ENDOCYTE WILL CONTINUE TO OPERATE AS A SEPARATE AND INDEPENDENT COMPANY

* COMPLETION OF TRANSACTION IS EXPECTED IN FIRST HALF OF 2019 Source text for Eikon: Further company coverage:

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