Bavarian Nordic A/S will be taken private by a consortium of Nordic Capital and Permira for approximately $3 billion. The offer price of 233 Danish kroner per share is a 21% premium to the previous close, and the board has endorsed the proposal. The company develops travel vaccines and partners with governments on mpox and smallpox vaccines. Private equity firms have been actively pursuing deals in European public markets due to perceived undervaluation.
Bavarian Nordic A/S, the Danish vaccine manufacturer, has agreed to be acquired by a consortium led by private equity firms Nordic Capital and Permira for approximately $3 billion. The all-cash offer is valued at 233 Danish kroner per share, representing a 21% premium over the previous closing price. The board of directors has endorsed this attractive proposal [1].
The acquisition is part of a broader trend in the European public markets, where private equity firms are increasingly targeting undervalued companies. The deal follows a series of high-profile acquisitions, including KKR & Co.'s £4.1 billion ($5.6 billion) offer for Spectris Ltd. and an ongoing exclusive negotiation for Tinexta SpA in Italy [3].
Bavarian Nordic specializes in developing travel vaccines and has been a key player in the mpox vaccine market. The company recently launched one of the first shots against chikungunya and has partnered with governments and other organizations to deliver mpox and smallpox vaccines. The acquisition will allow the company to focus on its core competencies and strategic growth initiatives.
The offer, which is subject to regulatory approval, is expected to close in the coming months. Investors are closely monitoring the deal, as it could set a precedent for future acquisitions in the European vaccine market.
References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3TP09J:0-consortium-led-by-nordic-capital-permira-to-acquire-bavarian-nordic/
[2] https://www.bloomberg.com/news/articles/2025-07-28/nordic-permira-to-take-bavarian-private-for-3-billion
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