E-Z-EM stockholders say 'yes' to merger with Bracco

By Lisa Kerner

Charlotte, N.C., March 24 - E-Z-EM, Inc. stockholders approved the company's acquisition by Bracco Diagnostics, Inc. at a special meeting on Thursday.

The number of shares voting to adopt the merger agreement represents 69.1% of the total number of shares outstanding and entitled to vote, a company news release stated.

In October, E-Z-EM announced it agreed to be acquired by Bracco for $21 per share in a cash transaction valued at some $241 million. The merger follows a year-long process by E-Z-EM to evaluate strategic alternatives, it was previously reported.

The merger is expected to close on or about April 1.

Bracco Diagnostics is the U.S.-based subsidiary of Bracco Imaging SpA and part of the Bracco Group. Bracco Imaging is an imaging agent business based in Milan.

Lake Success, N.Y.-based E-Z-EM manufactures contrast agents for gastrointestinal radiology, including an oral imaging product for the Bracco Group. Bracco is E-Z-EM's distributor in Italy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.