Cangene Corporation Shareholders Approve Acquisition by Emergent BioSolutions

Cangene Corporation (TSX:CNJ) shareholders have approved the previously announced acquisition by Emergent BioSolutions (NYSE:EBS). The acquisition will be implemented through a Plan of Arrangement under Canadian law, under which Cangene shareholders will receive US$3.24 per share (C$3.571 per share) in cash, for an aggregate purchase price of US$222 million (approximately C$245 million2).
As quoted in the press release:

The Plan of Arrangement was approved by approximately 99.95% of the votes cast by Cangene common shareholders, which constituted more than 90.1% of the outstanding shares.

Click here to read the Cangene Corporation (TSX:CNJ) press release