The independent journey of Tübingen-based mRNA pioneer CureVac is approaching its conclusion. Following decisive shareholder approval and regulatory clearance, the company’s acquisition by Mainz competitor BioNTech is entering its final phase. Investors now confront a rapidly closing window to exchange their holdings under the merger terms.
Shareholder Mandate and Regulatory Approval Clear Path
An overwhelming majority exceeding 99% of CureVac shareholders voted in favor of the merger during an extraordinary general meeting, providing a clear mandate for the transaction. With Germany’s Federal Cartel Office also granting antitrust approval, the process has shifted from strategic deliberation to operational execution.
The formal acceptance period for the share exchange concludes at 9:00 AM US Eastern Time on December 3, 2025. However, market participants are cautioned against waiting until the final moment. Due to processing requirements at custodian banks and brokerage platforms, shareholders should initiate the transfer of their CureVac shares by the evening of December 2 to ensure timely completion. Missing this practical deadline could result in complex settlement procedures or limited liquidity options.
Transaction Terms and Strategic Rationale
This agreement concludes a period of intense competition and patent disputes between the two German biotech leaders. Rather than continuing legal battles, the companies are consolidating their research capabilities and development pipelines.
Should investors sell immediately? Or is it worth buying CureVac?
Under the merger arrangement, CureVac investors will receive 0.05363 BioNTech shares for each CureVac share they hold. This exchange provides exposure to a more diversified biotechnology enterprise with substantial financial resources and an expanded oncology portfolio.
The transaction comes as CureVac reported anticipated third-quarter revenue of €54.1 million, reflecting the absence of one-time payments recorded in the prior year period. BioNTech offers shareholders access to a company with robust financial reserves and broader therapeutic development programs.
With shareholder approval secured and regulatory hurdles cleared, CureVac’s share price now moves in close correlation with BioNTech’s valuation. For current investors, the primary remaining consideration involves monitoring the calendar closely and ensuring their shares are submitted for exchange within the designated timeframe.
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