24th Jan 2014 11:47
LONDON (Alliance News) - Shire PLC said Friday that it had completed its tender off for the US's ViroPharma Inc, with 79.5% valid acceptances.
The pharmaceutical company said it expects to complete the merger of ViroPharma with one of its subsidiaries later Friday, and following this merger shares in ViroPharma will cease trading on the NASDAQ exchange in New York.
Shire extended its tender offer for ViroPharma twice, as it was originally scheduled to expire December 26, but was extended first to January 9 and then a second time to January 23. Last Wednesday, Shire waived the offer condition of UK Office of Fair Trading approval.
Shares in Shire were trading down 0.6%, or 18.00 pence at 2,986.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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