20th Oct 2020 17:57
(Alliance News) - Collagen Solutions PLC on Tuesday said its takeover offer by Rosen's Diversified Inc has become unconditional and will delist from the London Stock Exchange on Friday.
Collagen said the RDI offer for the company has 92.61% shares owned or offer acceptances. RDI sells a broad range of food, agricultural and scientific products into more than 30 countries, across five continents and has over 4,500 employees. Collagen Solutions will become part of RDI's life sciences division, which includes Scientific Life Solutions, it added.
"We have made tremendous progress in our vision to be the industry's first choice for regenerative biomaterials. We believe that being part of RDI will generate significant growth opportunities and create enhanced value for the benefit of all stakeholders and in particular our employees, customers and suppliers. I am optimistic and excited for the potential for continued momentum and greater opportunity for Collagen Solutions," said Chief Executive Jamal Rushdy.
The stock closed down 5.6% at 6.26 pence on Tuesday in London.
By Arvind Bhunjun; [email protected]
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