CSL, Zenyth deal

CSL will acquire ZTL for A$0.82 per share, or about A$102.7 million (US$77.3 million), in cash. The price is a 52% premium to ZTL's close of A$0.54 on July 14, the last trading day before the deal was announced. For every six ZTL shares held, ZTL will give its shareholders one share in a company that was spun out of ZTL last year, which represents an additional A$0.04 in value per ZTL share, or about A$5 million (US$3.8 million).

CSL, which has a vaccine to prevent cervical cancer and genital warts in Phase III testing and vaccines to treat HCV and melanoma in Phase II trials, said ZTL's preclinical proteins fit with its research in cancer, immunology and inflammation. ...