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Press Release Source: Transkaryotic Therapies, Inc.
TKT Stockholders Approve Acquisition by Shire
Wednesday July 27, 10:36 am ET
CAMBRIDGE, Mass., July 27 /PRNewswire-FirstCall/ -- Transkaryotic Therapies, Inc. (Nasdaq: TKTX - News) today announced that TKT stockholders approved the acquisition by Shire Pharmaceuticals Group plc. (LSE: SHP, Nasdaq: SHPGY, TSX: SHQ) for $37 per share in cash, or $1.6 billion in aggregate value, at the special meeting of stockholders by voting to adopt the merger agreement that the company entered into with Shire on April 21, 2005. The transaction is expected to close July 28, 2005.
Lydia Villa-Komaroff, Chairwoman of the Board of TKT said, "We are extremely pleased with the outcome of today's TKT vote and that the stockholders of TKT agree that the acquisition by Shire delivers full, fair and immediate cash value to our stockholders."
The Inspector of Election certified the following voting results with respect to the proposed Shire acquisition: 18,741,994 shares or approximately 52.6% of the shares entitled to vote voted "for" the adoption of the merger agreement, 9,890,989 shares or approximately 27.7% voted "against", and 47,416 shares or approximately 0.1% "abstained".
TKT also announced that it has received written demands for appraisal from stockholders with respect to 12,318,765 shares of TKT common stock which represented approximately 34.6% of the outstanding shares of TKT common stock as of the record date. |
