Samsung Peptide’s takeover bid for Polypeptide has reached its success threshold, but the acquisition of the Zug-based pharmaceutical contract manufacturer will take longer than planned. According to the definitive provisional result published on Friday and relayed by the AWP news agency on Allnews, the Samsung Biologics subsidiary holds more than 29.12 million shares, or 87.92% of the share capital and voting rights. Completion of the takeover, until now expected at the end of December, could take place at the earliest at the end of the year and at the latest in the first quarter of 2027.

Control of Polypeptide now secured

The offer, which ended on Monday, covered all listed ordinary shares of Polypeptide Group. The figure of 87.92% is a fact: it is the result of this offer period, as stated in the press release. What follows, on the other hand, is a matter of the projected timetable, and that is what is slipping.

Settlement of the transaction was initially scheduled for 13 November. It is expected to be postponed, which pushes back the completion of the offer accordingly. Until now, only a closing at the end of December was anticipated; the announced range now extends to the first quarter of 2027.

Approvals still pending in several countries

The reason given lies with the authorities. According to the press release, the postponement depends on the progress of regulatory procedures under way in several countries. The source specifies neither which countries are concerned, nor the exact nature of these procedures, nor which of the files is delaying the timetable. The completion date therefore remains an estimate that depends on decisions outside the control of the two companies.

What lies ahead for the remaining shareholders

Holders of shares who have not tendered them have a new window: an additional acceptance period of ten business days will run from 19 to 30 October. Samsung Peptide’s final level of ownership will therefore only be known at the end of this period.

Before that, an extraordinary general meeting of Polypeptide is scheduled for 26 October. It is notably due to elect to the board of directors the candidates chosen by Samsung Biologics, which will give the acquirer direct influence over governance even before settlement of the transaction.

Towards an exit from the Swiss stock exchange

Polypeptide is expected to leave the Swiss stock exchange. However, the source indicates neither the timetable for this delisting nor the procedure envisaged for minority shareholders who keep their shares. Nor does it give any indication of the consequences of the takeover for the Zug-based company’s sites or jobs.

For the Swiss pharmaceutical sector, the deal brings a listed contract manufacturer under the control of a foreign group. The next steps are now clear: the meeting on 26 October, the close of the additional period on 30 October, then the wait for regulatory green lights.

Sources

  • Allnews (AWP): “Samsung postpones completion of Polypeptide acquisition”