Proxy Advisory Services Recommend Shareholders Vote in Favor of Chiron's Amended Merger Agreement with Novartis
05 Avril 2006 - 10:05PM
Business Wire
Chiron Corporation (NASDAQ:CHIR) today announced that three
independent proxy advisory firms, Institutional Shareholder
Services, Proxy Governance, and Glass Lewis & Co., have
recommended that Chiron shareholders vote in favor of the company's
amended merger agreement with Novartis AG (NYSE:NVS). As announced
on April 3, Novartis has increased to $48.00 per Chiron share the
price it will pay for the approximately 56 percent of Chiron shares
that Novartis does not already own. The merger will require a
majority of outstanding shares as of the record date to be voted in
favor of the transaction. Chiron is in the process of sending
updated proxy materials to shareholders and plans to convene the
special shareholders meeting on April 12, 2006, and to immediately
adjourn the meeting and then reconvene on April 19, 2006. As all
necessary regulatory approvals were previously received, Chiron
expects the merger to close promptly after the stockholder vote on
April 19. About Chiron Chiron delivers innovative and valuable
products to protect human health by advancing pioneering science
across the landscape of biotechnology. The company works to deliver
on the limitless promise of science and make a positive difference
in people's lives. For more information about Chiron, please visit
www.chiron.com.
Chiron (NASDAQ:CHIR)
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