Reverse merger in U.K.

CeNeS Ltd., the neurological company, is attempting to catapult itself into the big time through a reverse takeover of the struggling drug delivery company Core Group plc (LSE:COG).

COG (Kilmarnock, U.K.) has offered to acquire CeNeS (Cambridge, U.K.) by issuing 53 million new shares to CeNeS shareholders, giving them 64.7 percent of the enlarged group. CeNeS senior management will be appointed as the executive directors of the company, which is expected to be called CeNeS plc. COG's executive directors have already resigned...