Seo Jung-jin, honorary chairman of Celltrion (photo= Celltrion)

 

[Alpha Biz= Reporter Kim Minyoung] On the 16th, Celltrion Group announced that it would not proceed with the merger between Celltrion and Celltrion Pharm (068760) at this time, based on the review results from a special committee.

Before the board meeting that day, the special committee conducted a "shareholder survey" from July 31 to August 14 to gather opinions on the merger. The review also included external evaluations by an accounting firm and internal evaluations involving a global consulting firm. The committee assessed the feasibility of the merger by examining five key areas: merger synergies, financial and non-financial risk factors, funding considerations, business potential, and shareholder opinions. The focus was on independently and objectively assessing whether the merger at this time would negatively impact the interests of shareholders in both companies.

The shareholder survey revealed that the majority of Celltrion shareholders opposed the merger, while the majority of Celltrion Pharm shareholders supported it. Among Celltrion shareholders who participated in the survey, 8.7% were in favor of the merger, 36.2% were opposed, and 55.1% abstained. When applying the principle of combining majority opinions with the shares held by major shareholders, the opposition rate was estimated at 70.4%. Including those who abstained, 96% of the shareholders expressed a lack of support for the merger.

In contrast, the Celltrion Pharm shareholder survey showed 67.7% in favor of the merger, 9.8% opposed, and 22.6% abstained.

 

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]