Life Sciences Research (LSR) announced that, at a special meeting of its stockholders, its stockholders voted to approve the merger of Lion Merger with and into LSR pursuant to the Agreement and Plan of Merger, dated as of July 8, among LSR, Lion Holdings and Lion Merger, as amended by Amendment No. 1 to Agreement and Plan of Merger, dated as of October 20, among LSR, Lion Holdings, and Lion Merger.
In a release dated November 23, the company stated:
The transaction is expected to be consummated on or about November 24, subject to the satisfaction of customary closing conditions. At the effective time of the merger, the separate corporate existence of Lion Merger will cease, and LSR will survive as a wholly owned subsidiary of Lion Holdings. Pursuant to the Agreement and Plan of Merger, as amended, at the effective time of the merger, each outstanding share of the voting common stock, par value $0.01 per share, of LSR (other than shares owned by Lion Holdings, Lion Merger or any other direct or indirect wholly owned subsidiary of Lion Holdings and LSR, and in each case not held on behalf of third parties) will be cancelled and converted into the right to receive $8.50 per share in cash, without interest and less any applicable withholding taxes.
Life Sciences Research is a contract research organization providing product development services to the pharmaceutical, agrochemical and biotechnology industries.
http://www.tradingmarkets.com/.site/news/Stock%20News/2690007/
The transaction is expected to be consummated on or about November 24, subject to the satisfaction of customary closing conditions. At the effective time of the merger, the separate corporate existence of Lion Merger will cease, and LSR will survive as a wholly owned subsidiary of Lion Holdings. Pursuant to the Agreement and Plan of Merger, as amended, at the effective time of the merger, each outstanding share of the voting common stock, par value $0.01 per share, of LSR (other than shares owned by Lion Holdings, Lion Merger or any other direct or indirect wholly owned subsidiary of Lion Holdings and LSR, and in each case not held on behalf of third parties) will be cancelled and converted into the right to receive $8.50 per share in cash, without interest and less any applicable withholding taxes.
Life Sciences Research is a contract research organization providing product development services to the pharmaceutical, agrochemical and biotechnology industries.
http://www.tradingmarkets.com/.site/news/Stock%20News/2690007/
Comments
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Court case
01.12.2009 22:59
Makes me laugh that these investors in torture lost money.
In their final accounts released just before they went private the company showed it was fairing even worse this year and again had a book to bill (amount of work coming in compared to whats done) of less than 1. This is completely unsustainable and they now have less that 7 months booked in work. Contract research organisations usually have well over a year work in advance. No wonder many investors decided to cut their loss. They saw the writing on the wall.
Laughing
Not that long ago...
01.12.2009 23:04
How things change
Yippee Kai Yay!!!
01.12.2009 23:36
Afterburner
With cashflow like this.......
02.12.2009 12:48
All over by Xmas