23 avr.: Preliminary China PMI Rises In April
23 avr.: Pakistan Seeking New Loan Arrangement With IMF - Report
23/04/2012 05:30:00

CORRECT: Australia's Biota, Nabi Pharmaceuticals Plan Merger

Related content
13 déc. - 
Glaxo rachète le fabricant de boissons protéinées Maxin..
07 déc. - 
Glaxo rachète un spécialiste chinois de l'allergie
03 déc. - 
LEAD 1 UE-Enquête sur de présumées collusions dans la p..

("Australia's Biota, Nabi Pharmaceuticals Plan Merger," at 2313 GMT, misstated the return to shareholders in the final paragraph. The correct version follows:)

MELBOURNE -(Dow Jones)- Australian drug development company Biota Holdings Ltd. (BTA.AU) said Monday it plans to merge with Nabi Biopharmaceuticals (NABI) to form a combined company to be listed on Nasdaq.

Biota said in a statement the move to the U.S. was designed to achieve better value recognition and liquidity through a stronger U.S. shareholder base.

"We believe this is a necessary step to increase our options for the development and commercialization of our product portfolio and will ultimately improve the recognition of the underlying value of our product portfolio for our shareholders," said Biota Chairman Jim Fox.

Biota develops anti influenza drugs such as Relenza, which is marketed by GlaxoSmithKline PLC.

Under the merger, Nabi will acquire all the shares in Biota for new shares in the name of Biota Pharmaceuticals, a Nasdaq listed company. Biota shareholders will own about 74% of Biota Pharmaceuticals and Nabi shareholders will own about 26% of the company.

Under the proposed merger Nabi will bring US$54 million to the new company, and excess cash, estimated to be around US$30 million, would be returned to existing Nabi shareholders.

-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095; gavin.lower@dowjones.com

(END) Dow Jones Newswires

April 22, 2012 23:30 ET (03:30 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

23 avr.: Preliminary China PMI Rises In April
23 avr.: Pakistan Seeking New Loan Arrangement With IMF - Report

Envoyer un commentaire

Related debate

  • 1 semaine
  • 1 mois
  • 1 an
Ingen indlæg

Annonces

Actualité la plus lue

  • 24 heures
  • 48 heures
  • 1 semaine
1
THERMADOR GROUPE : Information mensuelle relative au nombre total de droits de vote et d'actions composant le capital social
2
Soitec révise ses objectifs financiers pour les exercices 2015 et 2016
3
Rainer Voss : "Les mathématiques jouent un rôle trop important dans le monde de la finance"
4
QIAGEN Marseille reçoit une offre de son équipe dirigeante pour reprendre une partie des actifs de la Société
5
IGE+XAO : Déclaration du nombre total d'actions et de droits de vote composant le capital social au 22 décembre 2014

Related stock quotes

GlaxoSmithKline PLC 1 389,50 -0,2% Cours de bourse en baisse
GlaxoSmithKline PLC 43,44 0,2% Cours en hausse

Buy and sell signals

  • Tendance
  • Moneymachine

Related companies
Get access to information and recommendations of related companies with our PLUS package.

You get access to 7 valuable investment tools.

Click here to read more about the PLUS package.

Droit d'auteur Euroinvestor A/S 2014   Mentions légales et conditions d'utilisation
Information sur les cours fournies par Interactive Data.
Les données sont différées de 15 à 20 minutes selon les accords avec les différentes bourses internationales.
 
mardi 23 décembre 2014 00:27:40
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141219.2 - EUROWEB2 - 2014-12-23 00:27:40 - 2014-12-23 00:27:40 - 4 - Website: OKAY