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June 2, 2014
09:58 EDTNDZNordion announces cash consideration increase to $13 per share from Sterigenics
Nordion announced toay that it has entered into a second amendment o the previously announced definitive agreement with Sterigenics providing that, among other things, shareholders of Nordion will now be entitled to a cash consideration of $13.00 per share upon closing of the proposed acquisition by Sterigenics of all the issued and outstanding common shares of Nordion. Although a clear majority of Nordion shareholders supported Sterigenics’ all-cash acquisition proposal at $12.25 per share, there did not appear to be sufficient shareholder support to approve the transaction based on voting results available following the May 30 proxy voting deadline. As of the deadline, approximately 72.7% of all outstanding shares have been voted by proxy on the Arrangement resolution. Approximately 65.2% of the shares voted are in favor of the Arrangement and approximately 34.8% of the shares voted are against the Arrangement resolution. The Arrangement resolution requires the approval of 66 2/3% of the votes cast by such shareholders. In an effort to secure the necessary shareholder support for the Arrangement resolution, Sterigenics has increased the cash consideration, Nordion stated.
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