BioCentury
ARTICLE | Company News

ANI Pharmaceuticals, BioSante deal

April 22, 2013 7:00 AM UTC

ANI and BioSante entered into a new stock deal under which the companies will merge, with former ANI shareholders owning a 57% stake of the combined company and former BioSante shareholders owning the remaining stake. Under the deal proposed last October, former ANI shareholders would have owned about 53% of the combined company. Subsequent to March 15, BioSante said its board determined that it was not likely to receive sufficient additional votes prior to an April 12 stockholders meeting to either approve or reject the October merger with ANI. As a result, BioSante and ANI began discussions to restructure the deal (see BioCentury, Oct. 15, 2012 & March 25, 2013) ...