Update: Halozyme Therapeutics Withdraws Proposal to Acquire Evotec

MT Newswires Live11-22

(Updates with additional details throughout and latest stock movement in the sixth paragraph.)

Halozyme Therapeutics (HALO) said Friday it has withdrawn its proposal to acquire Evotec (EVO) for 11 euros ($11.47) per share in cash.

Evotec has been "unwilling to engage" about a potential business combination as its spokesperson publicly said that the company intends to remain independent, Halozyme added.

The biopharmaceutical company also said its requests to meet Evotec's chairwoman of the supervisory board were "not accepted."

Additionally, Halozyme reaffirmed its 2024 revenue guidance of $970 million to $1.02 billion.

Evotec did not immediately respond to MT Newswires' request for comment.

Halozyme shares were up 12% in recent Friday premarket activity, while Evotec shares were falling nearly 20%.

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