ARTICLE | Company News

bioMD, Allied Medical Ltd. deal

June 20, 2011 7:00 AM UTC

bioMD received greater than the necessary 90% approval from Allied shareholders for its compulsory acquisition of Allied in a stock deal bioMD said is worth about A$22 million ($23.2 million). Allied shareholders will receive 32 bioMD shares for each Allied share held and will own 70% of the combined company. bioMD said the deal will provide synergies and an infrastructure to commercialize new products in Australia. bioMD proposed the deal in February. ...