Nordic Capital, Permira Say Bavarian Offer Is ‘Full and Fair’

Nordic Capital and Permira are sticking to their 19 billion-krone ($3 billion) take-private offer for Bavarian Nordic A/S, setting the scene for a standoff with the Danish vaccine maker’s biggest shareholder.

The all-cash 233-krone bid represents “immediate, clear and definitive value to shareholders,” Florian Kreuzer, managing director at Permira, said in an interview with Bloomberg News. “This is a full and fair offer,” adding that it was the result of “a lengthy and thorough due diligence process.”