Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Biota Holdings Ltd.    BTA   AU000000BTA1

News SummaryMost relevantAll newsSector newsTweets 

Australia's Biota, Nabi Pharmaceuticals Plan Merger

share with twitter share with LinkedIn share with facebook
share via e-mail
04/23/2012 | 05:31am CET

("Australia's Biota, Nabi Pharmaceuticals Plan Merger," at 2313 GMT, misstated the return to shareholders in the final paragraph. The correct version follows:)

Australian drug development company Biota Holdings Ltd. (>> Biota Holdings Ltd.) said Monday it plans to merge with Nabi Biopharmaceuticals (NABI) to form a combined company to be listed on Nasdaq.

Biota said in a statement the move to the U.S. was designed to achieve better value recognition and liquidity through a stronger U.S. shareholder base.

"We believe this is a necessary step to increase our options for the development and commercialization of our product portfolio and will ultimately improve the recognition of the underlying value of our product portfolio for our shareholders," said Biota Chairman Jim Fox.

Biota develops anti influenza drugs such as Relenza, which is marketed by GlaxoSmithKline PLC.

Under the merger, Nabi will acquire all the shares in Biota for new shares in the name of Biota Pharmaceuticals, a Nasdaq listed company. Biota shareholders will own about 74% of Biota Pharmaceuticals and Nabi shareholders will own about 26% of the company.

Under the proposed merger Nabi will bring US$54 million to the new company, and excess cash, estimated to be around US$30 million, would be returned to existing Nabi shareholders.

-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095; gavin.lower@dowjones.com

Stocks mentioned in the article : Biota Holdings Ltd.
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on BIOTA HOLDINGS LTD.
2012DJU.S. HOT STOCK FUTURES : Hot stocks to watch
2012DJU.S. HOT STOCK FUTURES : Hot stocks to watch
2012DJNabi, Biota Consider Former Inhibitex Executive Plumb as New CEO
2012DJNabi Biopharmaceuticals to Buy Back $23 Million of Stock in Self-Tender Offer
2012 BIOTA HOLDINGS LTD. : Appendix 3B: New issue announcement
2012DJAustralia's Biota, Nabi Pharmaceuticals Plan Merger
2012DJAustralia's Biota, Nabi Pharmaceuticals Plan Merger
2011 BIOTA HOLDINGS LTD. : Notice of Annual General Meeting 2011-Example Proxy Form
2011 BIOTA HOLDINGS LTD. : Biota Announces Royalties from Inavir® and Relenza? for Q4..
More news
Sector news : Biotechnology & Medical Research - NEC
01/13DJNOVARTIS : Supreme Court to Weigh How Soon Firms Can Sell Copycat Biotech Drugs
01/12 Investors in big pharma, biotech look to ride out Trump storm
01/12DJHot Stocks to Watch in the U.S. and Canada
01/10 Regeneron CEO says Amgen not putting patients first in patent dispute
01/09DJCELGENE : Anticipates Slowing Sales Growth for Main Drug Revlimid
More sector news : Biotechnology & Medical Research - NEC
Income Statement Evolution
More Financials
Ian David Gust Independent Non-Executive Director
Paul Ronald Bell Independent Non-Executive Director
Raafat E. F. Fahim Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CELLTRION, INC.--.--%10 650
LONZA GROUP AG5.05%9 643
ALKERMES PLC-0.22%8 428
More Results