Draxis shareholders OK Jubilant acquisition

AuntMinnie.com staff writers
May 22, 2008

Draxis Health shareholders today approved the Montreal-based radiopharmaceutical developer's acquisition by Jubilant Organosys of Noida, India, for $255 million (U.S.) or $6 per share.

The transaction's closing remains subject to customary closing conditions, including approval by the Quebec Superior Court. The court is expected to make its decision on May 27.

Draxis and Jubilant are expected to close shortly after the court's decision.

Related Reading

Revenues slip, loss posted in Draxis' Q1, May 9, 2008

Indian firm to buy Draxis for $255 million, April 4, 2008

Draxis confirms sell-off rumors, March 17, 2008

Chalk River shutdown hurts Draxis' results, February 8, 2008

Draxis previews Q4 earnings, January 18, 2008

Copyright © 2008 AuntMinnie.com

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