The potential cash and shares deal values Quantum’s shares at 82p each and the company at £150.3 million Christopher Furlong/Getty ImagesA troubled drugs company is set to be sold to a rival for a price lower than its value when it went public less than three years ago in a flotation in which directors made millions of pounds selling shares. Quantum Pharma yesterday recommended a takeover from Clinigen, one of the biggest companies on the Alternative Investment Market, in a cash-and-shares deal that values Quantum’s shares at 82p each and the company at £150.3 million. The potential acquisition is almost a fifth below the level at which the company floated on Aim in December 2014. The listing, handled by Zeus Capital, had enabled investors, including directors, to sell almost £30 million of shares. They included Andrew Scaife, chief executive at the time, who sold half…

Source: The Times September 13, 2017 16:03 UTC