Evotec Stock: Halozyme Withdraws Bid, Shares Plunge 15%

The Hamburg-based biotech company Evotec experienced a significant market setback as its stock tumbled more than 15% to €8.50 following the withdrawal of an unsolicited takeover bid by US-based Halozyme. The American firm had initially proposed an offer of €11 per share, representing a substantial premium over current trading levels. The collapsed negotiations revealed fundamental disagreements between the companies, with Evotec maintaining its stance on independence. Halozyme had shown particular interest in Just-Evotec Biologics, a subsidiary specializing in cost-effective mass production of biologics.

Market Speculation Continues

Despite the failed acquisition attempt, market interest in Evotec's future remains high. Investment firm Triton had previously increased its stake from 5.6% to approximately 9.2%, fueling ongoing speculation about potential takeover scenarios. The company now faces the challenge of addressing high costs associated with biologics facility development while navigating a challenging market environment under new leadership.