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LONDON - Alliance Pharma (LON:ALAPH) plc shareholders have voted in favor of a takeover by Aegros Bidco Limited, a company backed by DBAY Affiliates and the ERES IV Fund, through a scheme of arrangement. The voting took place today at reconvened court and general meetings after an adjournment was announced on February 26, 2025, to allow further discussions with shareholders.
The acquisition proposal, which was finalized on March 10, 2025, will see eligible shareholders receive 64.75 pence in cash for each of their shares. This final increased cash offer will not be raised unless a competing offer emerges or with consent from the Panel in exceptional circumstances.
At the court meeting, 92.08% of the votes cast by value were in support of the scheme, meeting the 75% approval requirement. The general meeting also passed a resolution to authorize the directors to implement the scheme and amend the company’s articles, with 95.16% of the votes cast in favor.
The total number of Alliance shares voted at the general meeting was 432,162,561, representing 79.83% of the total shares at the voting record time. The company does not hold any shares in treasury, and the total voting rights at the time of record were 541,372,959.
The approval by shareholders satisfies conditions necessary for the acquisition to proceed. Subject to the remaining conditions and court sanction, the transaction is expected to be completed in the first half of 2025.
This strategic move follows a series of discussions and feedback from Alliance shareholders, leading to the adjournment of the initial meetings to provide additional time for consideration. The successful vote indicates shareholder confidence in the terms of the acquisition by Aegros Bidco.
The information for this article is based on a press release statement.
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