BioCentury
ARTICLE | Company News

NVX, Baxter alter merger terms

April 18, 2000 7:00 AM UTC

North American Vaccine and BAX reduced by $0.27 to $6.73 the per-share consideration that NVX shareholders will receive from BAX under BAX's proposed acquisition of NVX (see BioCentury, Nov. 22, 1999). The companies also extended by one month to June 30 the deadline for completing the transaction. NVX has failed to satisfy certain conditions of the original agreement, including achieving U.K. regulatory approval for its Neis-Vac-C vaccine to prevent group C meningococcal infection. BAX retains the option to waive any non-compliance issues and close the transaction, or to terminate the purchase. ...