Celltrion Group to evaluate feasibility of Celltrion, Celltrion Pharm merger

[Courtesy of Celltrion Inc.]

Celltrion Group announced on Wednesday that it has established a special committee to evaluate the feasibility of a potential merger between Celltrion Inc. and Celltrion Pharm Inc.

Each company will have its own special committee, composed entirely of outside directors, to independently assess the appropriateness of the merger.

“After our merger with Celltrion Healthcare Co., we have been exploring the feasibility of merging with Celltrion Pharm from multiple angles,” said a Celltrion official. “Throughout this process, we realized that an independent and objective evaluation by a special committee was essential.”

The special committee will consider a variety of factors, including the results of an independently conducted shareholder opinion survey, the anticipated synergies from the merger, evaluations from external neutral organizations, and financial assessments.

The committee will then submit its final recommendations to the respective boards of directors. If the merger is deemed feasible, another special committee will be established to move forward with the merger process.

To gauge shareholder sentiment, the committee will conduct a shareholder survey to gather opinions on the merger. The survey will target shareholders listed in the shareholder registry as of June 30 and will be open from until 5 p.m. on August 12. The results of this survey will be included in the final assessment.