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Novartis; Reuters Reporting In Talks To Buy Morphosys

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*NOVARTIS IN ADVANCED TALKS TO BUY MORPHOSYS: REUTERS


Novartis (NOVN SW) in talks to buy Morphosys (MOR GY). Target market cap is EUR1.6bn so only 1% deal for NOVN, target only has one EUR260m convertible outstanding (MORGR 0 5/8 10/16/25) which is indicating tighter though the equity has only just started to move more meaningfully.

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