Oct 16 (Reuters) - Bavarian Nordic ( BVNKF ) said on

Wednesday a consortium led by Nordic Capital and Permira had

raised its offer price for the vaccine maker to 250 Danish

crowns ($39) per share after its initial bid was not accepted by

a sufficient number of investors.

Innosera, a newly formed entity controlled by the consortium,

had offered to buy Bavarian Nordic ( BVNKF ) in July for 233 crowns per

share, or around $3 billion in total, with the biotech's board

unanimously recommending the offer to its shareholders in

August.

The board reiterated its recommendation of the offer in a

statement on Thursday.

Bavarian Nordic's ( BVNKF ) stock, which had closed at 230.5 crowns

the night before, opened about 4.5% higher.

However, shareholders representing only about 25.7% of

Bavarian Nordic's ( BVNKF ) share capital have so far accepted the offer,

according to Wednesday's statement. This is below the revised

75% threshold the consortium had.

Danish pension fund ATP's position on the offer remains

unchanged, its Deputy Director of Danish Equities Claus Moller

Berner told Reuters. The fund, which holds an around 10% stake

in the vaccine maker based on LSEG data, had publicly rejected

the previous offer.

Innosera has now informed Bavarian Nordic ( BVNKF ) that the revised

offer, which will expire on November 5, is its "best and final"

and will not be increased further, the company said.

Bavarian Nordic ( BVNKF ), which makes mpox and other vaccines, is a

key supplier to governments globally, including public health

preparedness programmes in the United States.

The consortium plans to delist the company from Nasdaq

Copenhagen following completion of the offer, which is expected

in the fourth quarter of 2025.

($1 = 6.4075 Danish crowns)