Beech Tree granted waiver from mandatory takeover bid for Ipsen
Ipsen has announced that Beech Tree, which holds a 26.03% stake in the company's capital and 33.05% of its voting rights, has been granted a waiver by the AMF (French Financial Markets Authority) exempting it from the requirement to file a mandatory public tender offer for all outstanding shares.
This decision follows the transfer of Henri Beaufour's stake in Beech Tree to the Alasol Foundation, an operation accompanied by a governance agreement between Altawin, the Alasol Foundation, and Beech Tree.
Under the terms of this agreement, the Alasol Foundation has committed to holding its Beech Tree shares for a minimum period of 15 years and has pledged not to interfere in Beech Tree's management of its stake in Ipsen.
The agreement also includes the recognition of Altawin's veto rights and a policy for Beech Tree's management of its direct and indirect holdings in Ipsen, ensuring continuity with the strategic direction and governance established during Henri Beaufour's lifetime.
Finally, the agreement provides for a consultation process between the Alasol Foundation, Beech Tree, and Altawin whenever necessary and, in any event, prior to any General Meeting of Beech Tree or Ipsen shareholders in order to reach a common position.
Ipsen specialises in the research, development, manufacture and marketing of specialty medicines. Net sales by therapeutic area break down as follows:
- oncology (69.2%);
- neuroscience (20.3%);
- rare diseases (10.5%).
At the end of 2025, the group had 7 research and development centers located in France (2), the United Kingdom (2), China (2) and Ireland, and 5 manufacturing sites worldwide.
Net sales are distributed geographically as follows: France (8%), Europe (31.7%), the United States (32.9%), North America (2.2%) and other (25.2%).
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