Sanofi Pasteur offer approved by Acambis shareholders
3 September 2008 00:00 in Pharmaceutical Company Restructures
Sanofi-Aventis has announced that the offer from Sanofi Pasteur Holding to purchase the entire capital of Acambis has been approved by the company's shareholders.
At a general meeting and court meeting required to approve this takeover as part of the UK Companies Act 2006, the necessary resolutions for shareholder approval of the acquisition were passed by over 99 per cent of the shareholders - by value - voting.
Acambis is a vaccine firm involved in the development of innovative vaccines to substantially improve existing standards of care or address areas of significant unmet medical need.
In July 2008, Sanofi Pasteur had announced it had reached an agreement to acquire Acambis on the terms of a unanimously recommended offer.
"The resolutions adopted today by Acambis' shareholders are an important step in the implementation of this acquisition," Sanofi Abentis said.
Court hearings to make the necessary changes to the share capital in Acambis and to sanction the acquisition are scheduled for later this month, with Acambis set to be come a wholly-owned subsidiary of Sanofi Pasteur on September 25th 2008.
In July 2008, Sanofi-Aventis said the deal to acquire Acambis was worth 190 pence per share, equal to a total of 276 million pounds.
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Story collated for Zenopa by the Adfero News Agency