February 10, 2020 / 2:04 AM / 8 days ago

BRIEF-Zealand Pharma Announces Bid To Acquire Valeritas

Feb 9 (Reuters) - Zealand Pharma A/S:

* ZEALAND PHARMA ANNOUNCES BID TO ACQUIRE VALERITAS

* ZEALAND PHARMA - SUBMITTED A BID TO ACQUIRE SUBSTANTIALLY ALL ASSETS OF VALERITAS HOLDINGS, INC.

* IF COMPLETED, ZEALAND PHARMA WILL PAY A TOTAL CASH CONSIDERATION OF $23 MILLION

* PROPOSED SALE IS TO BE CONDUCTED THROUGH A COURT-SUPERVISED SALE PROCESS UNDER SECTION 363 OF BANKRUPTCY CODE

* IF ZEALAND’S BID IS SELECTED, SALE WILL BE SUBJECT TO APPROVAL BY BANKRUPTCY COURT AND CERTAIN OTHER CLOSING CONDITIONS

* ZEALAND ENTERED INTO A DEFINITIVE AGREEMENT TO ACQUIRE SUBSTANTIALLY ALL ASSETS FROM VALERITAS

* UNDER TERMS OF AGREEMENT, ZEALAND SERVES AS STALKING HORSE BIDDER IN A SALE PROCESS Source text for Eikon: Further company coverage:

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