2nd Oct 2018 15:56
LONDON (Alliance News) - Vernalis PLC on Tuesday said its acquisition by Ligand Holdings UK has been approved by shareholders.
The pharmaceutical company's shareholders passed the deal, in which Ligand will pay GBP32.7 million, or 6.2 pence per Vernalis share, with 95% of votes cast in favour.
Ligand is to fund the acquisition, which is being effected by means of a court-sanctioned scheme of arrangement, through existing cash reserves.
Shares in Vernalis were untraded at 6.12p on Tuesday.