R&D, future vision, etc… Preferred negotiator will be selected in 2-3 days
[팍스넷뉴스 민승기 기자] The final presentation to select the preferred bidders for the acquisition of Shillazen’s management rights will be announced on the 12th. Shillazen has a policy to select preferred negotiators by focusing on the original buyer’s’technology’ and’future vision’ rather than simply the acquisition price.
According to the investment industry on the 5th, the competition to acquire the management rights of Shillagen is currently in a’three wave battle’. Among these, BDI, a manufacturer company, is the only place where the real name has been disclosed. The other two are Manufacturer A and Medical Device B, which recently changed their name and entered the bio industry. Although bio is not the main business of all of them, the proportion of bio business is increasing through recent agreements with famous bio-ventures, acquisitions of overseas bio companies, and equity investments.
The three companies that have entered the competition for the acquisition of Shillazen’s management rights will present presentations to the new board of directors elected at the recent shareholders’ meeting. At this time, Shillagen will focus on the R&D vision, technology and new drug pipeline development plans, rather than the acquisition price. This is to find a new investor who will sincerely take responsibility for the future of Shillagen, as the difference in the acquisition price suggested by the original buyers is not expected to be large.
BDI is expected to prepare a related presentation with a clinical implementation research company that has signed an agreement with the company. Company A, which recently entered the bio industry, is also evaluated to have high competitiveness in presentations as it has secured bio experts such as equity investments in overseas bio companies. The original sellers’ presentations will be announced on the same day, and it will take up to 2-3 days for the final decision of the preferred negotiator.
An official from an investment industry said, “It is expected that the acquisition funds they will propose will be very different,” and “After all, the selection of the final preferred negotiator is a fight over who can present the future vision well.” He added, “If it were in the form of a simple money game, the influential candidates would have already been selected, but the acquisition of Shillazen’s management rights could be completely different depending on the presentation result.”
As Shillazen’s work to secure new investors has entered the final stage, the possibility of resuming transactions within this year has also increased. Shillazen plans to select the final preferred negotiator within this month and promote management normalization within the first half of this year.
Earlier, the Korea Exchange suspended the company’s stock trading on May 4 last year when some executives, including former Shillazen CEO Moon Eun-sang, were accused of embezzlement or denunciation. A month later, on June 19, it was decided that Shillazen would be subject to the substantive examination of eligibility for listing, and it was decided to review whether to delist the listing and grant a period of improvement through the Commission. The Commission held its first meeting in August of the same year, but could not draw a clear conclusion and decided to re-discuss the matter later.
Since then, Shillazen has made efforts to resume the transaction by establishing a management manager Joo Sang-eun as the CEO, and establishing a new outside director. It also revised and submitted the management improvement plan, which was pointed out as inadequate during the first committee. Nevertheless, it was considered that the exchange did not meet the requirements for resuming transactions. They demanded Shillazen to improve its securing of funds and changing the largest shareholder.
An official from Shillagen said, “In addition to the resumption of transactions, we will in-depth discussion and select investors who will ensure the continuity of R&D and increase the value of the company in the future.” “I will judge it as” he emphasized.
ⒸLook at the market with new eyes. Unauthorized distribution of Paxnet News is prohibited