Bioenvision Shareholders Approve Acquisition by Genzyme Corporation
Genzyme Corporation and Bioenvision, Inc. announced that Bioenvision stockholders have voted to approve the acquisition of the company by Genzyme at a reconvened special shareholder meeting in New York. Bioenvision shares have now ceased trading and the company will be delisted from Nasdaq. Fifty-six percent of Bioenvision's issued and outstanding shares of common stock and preferred stock, voting together as a single class on an as converted basis, supported the merger. This represents approximately 67 percent of the total shares voted.
According to the company, with its acquisition of Bioenvision, Genzyme takes a significant step in enhancing its existing oncology business by gaining the exclusive, worldwide rights to clofarabine.
Genzyme acquires Bioenvision in an all cash transaction valued at $5.60 per share, or approximately $345 million.
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