BRIEF-Sirtex Medical Enters Binding Scheme Implementation Deed With CDH Genetech And China Grand Pharma

Reuters
0
In this article:

June 14 (Reuters) - Sirtex Medical Ltd:

* TERMINATES VARIAN SCHEME & ENTERS INTO A BINDING SCHEME IMPLEMENTATION DEED WITH CDH GENETECH AND CHINA GRAND PHARMA

* UNANIMOUSLY FORMED VIEW THAT CDH-CGP PROPOSAL IS SUPERIOR TO PROPOSED SCHEME OF ARRANGEMENT WITH VARIAN

* CDH & CHINA GRAND PHARMACEUTICAL AND HEALTHCARE HOLDINGS WILL BUY 100% OF SHARES IN SIRTEX FOR A$33.60 IN CASH PER SIRTEX SHARE

* BOARD UNANIMOUSLY RECOMMENDS SIRTEX SHAREHOLDERS VOTE IN FAVOUR OF CDH- CGP SCHEME

* REQUIRED TO PAY A BREAK FEE TO VARIAN OF ABOUT A$16 MLN AS A RESULT OF SIRTEX BOARD SUPPORTING CDH-CGP SCHEME

* BOARD INTENDS TO VOTE SHARES IN THEIR CONTROL IN FAVOUR OF PROPOSED CDH-CGP SCHEME

* TERMINATES VARIAN SCHEME & ENTERS INTO A BINDING SCHEME IMPLEMENTATION DEED WITH CDH GENETECH AND CHINA GRAND PHARMA Source text for Eikon: Further company coverage:

Advertisement

Recommended Stories