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Biotech / Medical : Infinity Pharmaceuticals
INFI 0.0160-4.8%Sep 29 5:00 PM EST
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To: Mike McFarland who wrote (91)9/12/2006 4:22:57 PM
From: dr.praveen  Read Replies (1) of 210
 
Discovery Partners International Announces Stockholder Approval of the Infinity Merger

SAN DIEGO, Sept. 12 /PRNewswire-FirstCall/ -- Discovery Partners International, Inc. (Nasdaq: DPII) announced today that its stockholders approved the previously announced merger with Infinity Pharmaceuticals, Inc. at its special stockholders meeting held today. The transaction is expected to close before the open of trading on September 13, 2006.

At the special meeting, the Discovery Partners stockholders also approved several proposals related to the merger, including, among other things, a reverse stock split which the board of directors has determined will be a

1-for-4 reverse split of Discovery Partners common stock, changing the name of Discovery Partners to Infinity Pharmaceuticals, Inc., increasing the maximum size of the board of directors to 12 and increasing the number of shares authorized for issuance under the 2000 Stock Incentive Plan.
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