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Stock Market & Financial Investment News

News Breaks
January 28, 2014
07:04 EDTEBSEmergent announces waiting period expiration for Cangene acquisition
Emergent BioSolutions announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with Emergentís proposed acquisition of Cangene has expired. The expiration of the waiting period for antitrust review of the proposed acquisition satisfies one of the conditions to the closing of the acquisition. As announced on December 11, 2013, Emergent and Cangene have entered into a definitive agreement under which Emergent will acquire all of the outstanding common shares of Cangene in an all-cash transaction valued at $3.24 per share on a fully diluted basis for an aggregate purchase price of $222M. Completion of the acquisition is subject to approval by 66 2/3% of the votes cast by Cangene shareholders at a special shareholder meeting scheduled for February 12, approval by the Ontario Superior Court of Justice at a hearing scheduled for February 18 and other customary closing conditions. The transaction is expected to close before the end of1Q14.
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