Canadian radioisotope firm Nordion has postponed its shareholders' meeting on the sale of the company to sterilization services provider Sterigenics.
Nordion is proposing to sell itself to Sterigenics for $12.25 per share (U.S.), but the meeting was rescheduled to June 3 after Nordion did not receive sufficient shareholder support to approve the deal, based on proxy voting on May 23. At the time, approximately 71% of all outstanding shares were voted by proxy, with approximately 65% in favor and 35% against the deal.
Sterigenics increased its offer to $758 million earlier this month from $727 million after Nordion received a rival bid from an undisclosed buyer.
Nordion said the delay will allow the tardy shareholders to either cast their votes or reconsider their position.
