BioCanCell shareholders turn down offer to go private

BioCanCell Therapeutics Inc. (Tel Aviv:BICL) said its shareholders did not approve a full tender offer led by its largest shareholder Clal Biotechnology Industries Ltd. (Tel Aviv:CBI) to take BioCanCell private. According to BioCanCell, the offering price was increased to NIS1.70 from NIS1.40 per share. The NIS1.70 price values the company at over $47 million. Of the 5.9 million shares needed for the tender to be accepted, only 1.4 million shares voted to accept the proposal...