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Cangene Acquisition Gets Ontario Court Approval

Emegent BioSolutions’ Plan of Arrangement includes purchase price of $222 million

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By: Kristin Brooks

Managing Editor, Contract Pharma

Cangene Corp. received approval from the Ontario Superior Court of Justice for the previously announced acquisition of Cangene by Emergent BioSolutions, Inc. Under the court-approved Plan of Arrangement, Cangene shareholders will receive $3.24 per share in cash, for an aggregate purchase price of $222 million.
 
The transaction, subject to additional customary closing conditions, is expected to close in February 2014.

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