Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Having failed last week to win shareholder backing for their planned $345 million merger, biotech companies Genzyme and Bioenvision have sought to obtain a court order to reconvene a special meeting of shareholders and provide another opportunity for the deal to be approved.
Subscribe to our email newsletter
The companies are pursuing the deal despite opposition from a key Bioenvision shareholder, SCO Capital Partners LLC.
The petition seeks that the court permit Bioenvision to reconvene the special meeting of stockholders in late October and reopen the polls to ensure that all of its stockholders are afforded an opportunity to vote for or against the adoption of the merger agreement and for those votes to be properly counted.
In addition, this relief would provide that appraisal rights relating to the merger agreement be available to all Bioenvision stockholders prior to taking the vote in late October.