Switzerland
PolyPeptide: Samsung Biologics’ offer confirmed, but settlement slips to end-2026 or Q1 2027
Follow-up: the definitive interim result confirms that 87.6% of PolyPeptide’s shares were tendered into Samsung Biologics’ cash offer by 12 October, unchanged from the provisional count, and the bidder has declared the offer successful. New is the timing: settlement, planned for 13 November, will be postponed because of the merger and foreign-investment approval procedures in several countries, which the release does not name. Completion is now expected towards the end of 2026 or in Q1 2027, so the change of owner may slip into next year. The approvals and the 26 October general meeting, which must lift the voting and transfer limits in the articles and elect Samsung’s board nominees, remain conditions.
In plain words
What happened. Samsung Biologics, a Korean company that makes drugs for other companies, offered to buy PolyPeptide. Owners of about 88% of the shares have accepted, and this is now final.
Why it matters. Authorities in several countries still have to approve the deal, and this is taking longer than planned. Shareholders who accepted will be paid at the end of 2026 or early 2027 instead of in mid-November. PolyPeptide makes peptides, the active ingredients of drugs such as the new diabetes and obesity injections, for other drug companies.
Context Partly new: the acceptance level matches the provisional result of 13 October, but the timetable has slipped; until now settlement was scheduled for 13 November. The offer of CHF 44.31 per share values PolyPeptide’s equity at about CHF 1.46B, and the largest shareholder, with about 55.7% of the shares, had committed to tender. PolyPeptide makes peptide drug ingredients under contract, with plants in Sweden, Belgium, France, the US and India; 68% of its H1 2026 revenue of €236.6M came from metabolic peptides, the class that includes GLP-1 diabetes and obesity drugs. Shareholders can still tender from 19 to 30 October; Samsung then plans a squeeze-out and a SIX delisting.
General information, not investment advice. By using this site you accept our terms: 5mn.ch/disclaimer