Intercell: IOMAI Acquisition granted clearance by US Authorities
Intercell AG announced that, following review by the United States Securities and Exchange Commission (SEC), Iomai Corporation filed a definitive proxy statement on July 10, 2008 for Iomai stockholders regarding the proposed acquisition by Intercell of Iomai. The parties have previously received notice of early termination of the waiting period under the HartScottRodino Antitrust Improvements Act of 1976, as amended, by the U.S. Department of Justice and clearance by the Committee on Foreign Investment in the United States (CFIUS) of the U.S. Department of the Treasury.
The acquisition still requires the approval of Iomai stockholders. The stockholder meeting during which the Iomai stockholder vote will occur will take place on August 1st. Shareholders holding over 50 percent of Iomai's total shares outstanding have already agreed to vote in favour of the combination. It is anticipated that the final closing of the transaction should occur during the week of August 4. Intercell will now initiate the legal steps required in Austria in connection with the capital increase for the stockforstock exchange component of the transaction.
Gerd Zettlmeissl, CEO of Intercell, said: "It is very good to see the two companies coming together even faster than originally planned. We are very pleased that soon we can start to aggressively optimize the key product and technology synergies of this merger still this year. This timing goes alongside nicely with our expected approval dates for our JEVaccine coming up in the second half of 2008 in the US, EU and Australia.
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