$云顶新耀-B(01952)$
Statement by the Board of Directors of Calliditas Therapeutics AB (publ) in relation to the public offer by Asahi Kasei Corporation
Calliditas Therapeutics AB（publ）董事会关于朝日化成公司公开募股的声明
PR Newswire
美通社
STOCKHOLM, May 28, 2024
斯德哥尔摩，2024 年 5 月 28 日
STOCKHOLM, May 28, 2024 /PRNewswire/ -- The Board of Directors of Calliditas Therapeutics AB (publ) unanimously recommends that the shareholders and holders of American Depositary Shares ("ADS") of Calliditas Therapeutics AB (publ) (jointly the "Securityholders") accept the public tender offer by Asahi Kasei Corporation.
斯德哥尔摩，2024年5月28日 /PRNewswire/ — Calliditas Therapeutics AB（publ）董事会一致建议Calliditas Therapeutics AB（publ）美国存托股份（“ADS”）的股东和持有人（共称 “证券持有人”）接受朝日化成公司的公开招标要约。
Background
背景
This statement is made by the Board of Directors (the "Board") of Calliditas Therapeutics AB (publ) ("Calliditas" or the "Company") pursuant to section II.19 of the Nasdaq Stockholm takeover rules ("Section II.19") and Regulation 14D under the Securities Exchange Act of 1934, as amended (together with Section II.19, the "Takeover Rules").
本声明由Calliditas Therapeutics AB（publ）（“Calliditas” 或 “公司”）的董事会（“董事会”）根据纳斯达克斯德哥尔摩收购规则（“第二.19节”）和经修订的1934年《证券交易法》第14D条（以及第二.19节 “收购规则”）作出。
Asahi Kasei Corporation ("Asahi Kasei" or the "Offeror"), today announced a public cash offer to acquire all shares in Calliditas (the "Shares") for SEK 208 in cash per Share (the "Offer"). The Offer will also include a concurrent offer by the Offeror to acquire all American Depositary Shares, each representing two Shares in Calliditas, for SEK 416 in cash per ADS, which will be conducted pursuant to the securities rules of the United States. The total value of the Offer corresponds to SEK 11,164 million.([1])
朝日化成株式会社（“朝日化成” 或 “要约人”）今天宣布了一项公开现金要约，以每股现金208瑞典克朗收购Calliditas的所有股份（“股份”）（“要约”）。该要约还将包括要约人同时提出的收购所有美国存托股份，每股代表Calliditas的两股股份，每股收购416瑞典克朗的现金，该要约将根据美国证券规则进行。该要约的总价值相当于111.64亿瑞典克朗。（[1]）
The Offer represents a premium of:
该优惠的溢价为：
-- 83 per cent compared to the closing price of the Shares on Nasdaq
Stockholm on May 27, 2024 of SEK 113.6, the last trading day prior to the
announcement of the Offer;
-- 83 per cent compared to the volume weighted average price of the Shares
on Nasdaq Stockholm during the 30 latest trading days up to and including
May 27, 2024 of SEK 113.4; and
-- 74 per cent compared to the closing price of the ADS on Nasdaq Global
Select Market on May 24, 2024 of USD 22.42, and 91 per cent compared to
the volume weighted average price of the ADS on Nasdaq Global Select
Market during the 30 latest trading days up to and including May 24, 2024
of USD 20.42.[2]
— 与纳斯达克股票的收盘价相比为83％
2024年5月27日，斯德哥尔摩为113.6瑞典克朗，这是前的最后一个交易日
要约的公告；
-与股票成交量加权平均价格相比为83％
在最近的30个交易日内在斯德哥尔摩纳斯达克上市
2024 年 5 月 27 日 113.4 瑞典克朗；以及
— 与纳斯达克全球ADS的收盘价相比，为74％
2024 年 5 月 24 日的精选市场为 22.42 美元，涨幅为 91%
纳斯达克环球精选ADS的交易量加权平均价格
截至2024年5月24日（含当日）的最近30个交易日的市场
为20.42美元。[2]
The acceptance period of the Offer is expected to commence on or around July 18, 2024 and expire on or around August 30, 2024, subject to any extensions.
该要约的接受期预计将于2024年7月18日左右开始，并于2024年8月30日左右到期，但可能会延期。
Completion of the Offer is conditional upon customary conditions including, amongst other things, Asahi Kasei becoming the owner of more than 90 per cent of the Shares in Calliditas (on a fully diluted basis) and receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions, including from competition authorities and agencies screening foreign direct investments, in each case on terms that, in the Offeror's opinion, are acceptable. Asahi Kasei has reserved the right to waive, in whole or in part, these and other conditions for completion of the Offer. Asahi Kasei has also reserved the right to shorten the acceptance period and set an earlier settlement date as well as to extend the acceptance period and to postpone the settlement date, as may be permissible under applicable laws and regulations. Please refer to the Offeror's press release regarding the Offer for further information.
要约的完成取决于惯例条件，包括朝日化成成为Calliditas90％以上股份的所有者（按全面摊薄计算），并获得所有必要的监管、政府或类似的许可、批准和决定，包括竞争主管机构和筛选外国直接投资的机构的许可、批准和决定，在每种情况下，要约人认为条件都是可以接受的。朝日化成保留全部或部分放弃完成要约的这些条件和其他条件的权利。朝日化成还保留在适用法律法规允许的范围内，缩短受理期和设定更早的结算日期，以及延长接受期和推迟结算日期的权利。请参阅要约人关于要约的新闻稿以获取更多信息。
At the written request of the Offeror, the Board has permitted the Offeror to carry out a due diligence review of Calliditas in relation to the preparation of the Offer. In connection with such review, Asahi Kasei has received certain information concerning the Company's financial performance for the period up to and ended March 31, 2024 as well as a trading update for the period until May 23, 2024. This information was subsequently included in the Company's quarterly report for the first quarter of 2024, which was released on May 23, 2024. Except as set out above, Asahi Kasei has not received any inside information in connection with its due diligence review.
应要约人的书面要求，董事会已允许要约人对Calliditas进行与要约准备有关的尽职调查审查。与此类审查有关，朝日化成已收到有关公司截至2024年3月31日的财务业绩的某些信息，以及截至2024年5月23日的交易最新情况。这些信息随后被纳入公司于2024年5月23日发布的2024年第一季度的季度报告中。除上述情况外，朝日化成尚未收到任何与其尽职调查审查有关的内幕消息。
BVF Partners, Linc AB (publ) and Stiftelsen Industrifonden, the three largest Securityholders of Calliditas together with other large Securityholders, whose combined interest in the Company represents approximately 44.65 per cent([3]) of the total number of shares, have entered into undertakings with the Offeror to accept the Offer, subject to certain conditions (the "Irrevocable Undertakings"). Please refer to the Offeror's press release regarding the Offer for more information about the Irrevocable Undertakings.
BVF Partners、Linc AB（publ）和Stiftelsen Industrifonden是Calliditas的三大证券持有人，以及其他大型证券持有人，他们在公司的总权益约占股份总数的44.65％（[3]），已与要约人签订了接受要约的承诺，但须遵守某些条件（“不可撤销的承诺”）。有关不可撤销承诺的更多信息，请参阅要约人关于要约的新闻稿。
Lazard AB ("Lazard") is acting as financial advisor to Calliditas and Advokatfirman Vinge KB (Swedish counsel) and DLA Piper LLP (US) (international counsel) are legal advisors to Calliditas in connection with the Offer.
Lazard AB（“Lazard”）担任Calliditas的财务顾问，Advokatfirman Vinge KB（瑞典法律顾问）和DLA Piper LLP（美国）（国际法律顾问）是Calliditas与本次要约有关的法律顾问。
Lazard has, in its capacity as financial advisor, provided an opinion to the Board in connection with the Offer that, as of May 27, 2024, based upon and subject to the factors, limitations and assumptions set forth therein, the consideration in SEK to be paid in connection with the Offer to the Securityholders of Calliditas is fair from a financial point of view to the Securityholders of Calliditas, which was prepared in reliance on certain information as provided in the opinion. The full text of the written opinion, which sets forth assumptions made, procedures followed, matters considered and limitations on the review undertaken in connection with the opinion, is attached to this statement. Lazard provided its view on fairness, from a financial point of view, and advice solely for the information and assistance of the Board in connection with its consideration of the Offer and not to the Securityholders of Calliditas. Lazard's opinion is not a recommendation as to whether any Securityholder of Calliditas should tender their shares or ADS in connection with the Offer or any other matter related thereto. Lazard's total fee as financial advisor is contingent on the size of the Offer consideration and whether the Offer is completed. Lazard will receive a fixed fee for providing this opinion, which is payable upon delivery of this opinion and creditable against Lazard's total fee.
拉扎德以财务顾问的身份就此次要约向董事会提供了意见，该意见认为，截至2024年5月27日，根据其中规定的因素、限制和假设，从财务角度来看，与Calliditas证券持有人要约相关的瑞典克朗对价对Calliditas的证券持有人是公平的，Calliditas的证券持有人是公平的，Calliditas的证券持有人是公平的。意见。本声明附有书面意见的全文，其中列出了所作的假设、遵循的程序、考虑的事项以及对与该意见有关的审查的限制。拉扎德从财务角度提供公平观点和建议，仅供董事会考虑本次要约时参考和协助，而不是向Calliditas的证券持有人提供。拉扎德的意见不是关于Calliditas的任何证券持有人是否应就要约或任何其他相关事项投标其股份或ADS的建议。Lazard作为财务顾问的总费用取决于要约对价的规模以及要约是否完成。Lazard将因提供该意见而获得固定费用，这笔费用将在提交本意见时支付，并可计入Lazard的总费用。
The Board's recommendation
审计委员会的建议
The Board's evaluation of the Offer must be made in respect of the Company's present market position and the future opportunities available, as well as the risks and uncertainties associated with the Company's future developments and strategy. In that respect, the Board has taken a number of factors into account which it has deemed relevant to the evaluation of the Offer. In addition to the aforementioned factors, these include, but are not limited to, the Company's present strategic and market position and its potential future development and the thereto related opportunities and risks. The Board has considered valuation methods normally used to evaluate public offers for listed companies, including how the Offer values Calliditas in relation to comparable listed companies and comparable transactions, bid premiums in previous public takeover offers, the stock market's expectations regarding the Company's prospects and the Board's view of the Company's value based on its expected future cash flows.
董事会对要约的评估必须考虑到公司目前的市场地位和未来的可用机会，以及与公司未来发展和战略相关的风险和不确定性。在这方面，董事会考虑了许多其认为与要约评估相关的因素。除上述因素外，这些因素还包括但不限于公司目前的战略和市场地位及其潜在的未来发展及其相关的机会和风险。董事会考虑了通常用于评估上市公司公开发行股票的估值方法，包括该要约如何对Calliditas进行与可比上市公司和可比交易的估值、先前公开收购要约中的出价溢价、股票市场对公司前景的预期，以及董事会根据其预期的未来现金流对公司价值的看法。
In the Board's opinion, the combination of the Offeror and Calliditas will leverage and complement the Offeror's product offerings as well as its ability and expertise in rare disease drug development and commercialization. With Asahi Kasei as its new strategic owner, the Company aims to realize the benefits of being part of a larger platform and the potential opportunity to accelerate the Company's revenue growth trajectory as well as pipeline development.
董事会认为，要约人和Calliditas的合并将利用和补充要约人的产品供应及其在罕见病药物开发和商业化方面的能力和专业知识。随着朝日化成成为其新的战略所有者，该公司的目标是实现成为更大平台一部分的好处，以及加快公司收入增长轨迹和管道开发的潜在机会。
The proposed transaction highlights the shared commitment of the Offeror and Calliditas in addressing the significant unmet medical need in IgA nephropathy with the continued focused development of this first to market product in IgAN.
拟议的交易凸显了要约人和Calliditas共同致力于解决IgA肾病中尚未满足的重大医疗需求，并将继续集中开发IgA肾病的首款上市产品。
The Board notes that the Offer implies a premium of approximately 83 per cent compared to the closing price of SEK 113.6 for the Calliditas Shares on Nasdaq Stockholm on May 27, 2024 and a premium of approximately 83 per cent compared to the volume weighted average price for the Calliditas Shares on Nasdaq Stockholm during the last 30 trading days prior to announcement of the Offer. Likewise, the Offer implies a premium of approximately 74 per cent compared to the closing price of USD 22.42 for the Calliditas ADS on the Nasdaq Global Select Market on May 24, 2024 and a premium of approximately 91 per cent compared to the volume weighted average price for the Calliditas ADS on the Nasdaq Global Select Market during the last 30 trading days prior to announcement of the Offer.
董事会指出，与2024年5月27日斯德哥尔摩纳斯达克Calliditas股票的收盘价113.6瑞典克朗相比，该要约的溢价约为83％，与宣布要约前的最后30个交易日斯德哥尔摩纳斯达克Calliditas股票的成交量加权平均价格相比，溢价约为83％。同样，该要约意味着与2024年5月24日纳斯达克全球精选市场Calliditas ADS的收盘价22.42美元相比，溢价约为74％，与宣布要约前的最后30个交易日纳斯达克全球精选市场Calliditas ADS的成交量加权平均价格相比，溢价约91％。
In its evaluation of the Offer, the Board has also taken into account the Irrevocable Undertakings from the Company's three largest Securityholders together with other large Securityholders, whose interest together represents approximately 44.65 per cent([4]) of the total number of shares in Calliditas.
在评估本次要约时，董事会还考虑了公司三大证券持有人以及其他大型证券持有人的不可撤销承诺，他们的权益合计约占Calliditas股份总数的44.65％（[4]）。
The Board has, as part of its process to evaluate the Offer and in line with its fiduciary duties, investigated other opportunities in light of the approach by the Offeror. The Board has been in contact with other potential bidders in order to evaluate a superior offer.
作为评估要约过程的一部分，董事会根据其信托责任，根据要约人的方针调查了其他机会。董事会一直在与其他潜在投标人联系，以评估更优惠的报价。
The Board also notes that the Offer is not subject to any financing condition and the Offer is financed by Asahi Kasei's cash on hand.
董事会还注意到，该要约不受任何融资条件的约束，该要约由朝日化成的手头现金提供资金。
Having concluded this assessment, the Board believes that the terms of the Offer reflect the Company's present position and growth prospects, including the risks and uncertainties associated with those prospects.
在结束本次评估后，董事会认为，要约条款反映了公司目前的状况和增长前景，包括与这些前景相关的风险和不确定性。
On this basis, the Board unanimously recommends that the Securityholders of Calliditas accept the Offer.
在此基础上，董事会一致建议Calliditas的证券持有人接受该要约。
Under the Takeover Rules, the Board is required, on the basis of the Offeror's statements in the announcement of the Offer, to make public its opinion of the effects the implementation of the Offer may have on Calliditas, specifically employment, and its views on the Offeror's strategic plans for the Company and the effect these may be expected to have on employment and the places where Calliditas conducts its business. The Offeror has in this respect communicated:
根据收购规则，董事会必须根据要约人在要约公告中的声明，公开其对要约的实施可能对Calliditas产生的影响，特别是就业的看法，以及其对要约人公司战略计划的看法以及这些计划可能对就业和Calliditas开展业务的地方产生的影响。要约人已就此传达。