Aspreva shareholders OK merger with Galenica Group

By Lisa Kerner

Charlotte, N.C., Dec. 17 - Aspreva Pharmaceuticals Corp. shareholders and optionholders overwhelmingly approved the company's proposed acquisition by a Galenica Group subsidiary at a special meeting on Monday.

The transaction was approved by more than 99% of the votes cast by shareholders and by over 99% of the votes cast by shareholders and optionholders, voting together as a class, according to an Aspreva news release.

The transaction, carried out by a statutory plan of arrangement under Section 288 of the British Columbia Business Corporations Act, is expected to close on Jan. 3.

On Oct. 18, Galenica agreed to agreed to acquire Aspreva for $26 cash per share in a transaction valued at about $915 million.

Zurich-based Galenica develops, manufactures and markets pharmaceutical products, runs pharmacies, provides logistical services and access to databases and sets up networks.

Aspreva is a pharmaceutical company based in Victoria, B.C.

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