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news.Axcan Pharma has reported that the Superior Court of Quebec has issued a final order approving the plan of arrangement pertaining to the acquisition by an affiliate of TPG Capital of all outstanding common shares of Axcan.
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The Court’s final order also held the plan of arrangement to be fair and reasonable to Axcan shareholders. The transaction is expected to close in the first quarter of calendar 2008. Axcan will advise shareholders nearer to the time of closing about the procedures for surrendering and receiving payment for their shares. The transaction remains subject to customary conditions, including receipt of all required regulatory approvals.