Applied Bioscience International Inc., PPD deal

The companies completed their merger (see BioCentury June 25). The combined enterprise will retain the PPDI name and will continue to trade under its ticker. APBI shareholders will receive 0.4054 shares of PPDI stock for each share of APBI, representing $12.51 per share to APBI shareholders based on an average PPDI stock price of $30.86 per share calculated over a 10-day period five days prior to Thursday's closing. ...