Draxis Health shareholders today approved the Montreal-based radiopharmaceutical developer's acquisition by Jubilant Organosys of Noida, India, for $255 million (U.S.) or $6 per share.
The transaction's closing remains subject to customary closing conditions, including approval by the Quebec Superior Court. The court is expected to make its decision on May 27.
Draxis and Jubilant are expected to close shortly after the court's decision.
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Indian firm to buy Draxis for $255 million, April 4, 2008
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Draxis previews Q4 earnings, January 18, 2008
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