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Investing.com -- Alliance Pharma (LON:ALAPH) shares climbed 2.2% following the announcement that DBAY Advisors has increased its takeover offer to 64.75p per share, up from the previous 62.5p.
The updated proposal is presented as the final bid, with DBAY affirming it will not raise the offer further unless another bidder steps in or under exceptional circumstances that would allow the Takeover Panel to give its consent.
The move comes as Slater Investments, which holds a 13.5% stake in Alliance Pharma, has issued a letter of intent signaling its intention to vote in favor of the acquisition. DBAY, already owning 27.9% of the company, has also received the backing of the Board, which is recommending shareholders accept the bid.
RBC analysts expect this bid to be accepted, indicating a positive reception from the market and suggesting that the deal is likely to go through.
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