The Transaction remains subject to the sanction of the Scheme by the High Court of Justice of England and Wales, the satisfaction of certain antitrust conditions
Danaher to acquire Abcam. (Credit: Rock Staar on Unsplash)
Abcam, a global leader in the supply of life science research tools, which entered into a definitive agreement on August 26, 2023 relating to its proposed acquisition by Danaher Corporation, today announced that its shareholders have approved the proposal for Danaher to acquire all of the outstanding shares of Abcam for $24.00 per share in cash.
“On behalf of Abcam’s Board of Directors, I would like to thank all our shareholders for their support for the Transaction,” said Peter Allen, Chairman of the Board. “With this approval, we are focused on moving swiftly toward transaction close and ensuring a successful transition to deliver maximum value to our shareholders, employees, and customers.”
“We are thrilled shareholders have overwhelmingly approved the Transaction. This outcome has arrived at the right time for Abcam to embark on the next chapter in its story within the Danaher family.” said Alan Hirzel, Chief Executive Officer of Abcam. “Our employees and customers are poised to benefit once the remaining conditions have been satisfied and closing has occurred. We look forward to harnessing the power of the Danaher Business System to ensure Abcam plays its part in enabling progress in the life sciences.”
Voting results of the Court Meeting and General Meeting
At the Court Meeting, a majority in number of Scheme Shareholders who voted (either in person or by proxy) and who together represented 89.74 percent in value of all Scheme Shares voted by such Scheme Shareholders, voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed.
At the General Meeting, 89.42 percent of votes were cast in favour of the Resolution to approve the implementation of the Scheme, including the adoption of the amended articles of association of Abcam. The Resolution was therefore passed by the requisite majority of Abcam Shareholders.
The full text of the resolutions put to the Court Meeting and General Meeting are set out in the scheme circular published by Abcam on October 5, 2023 (the ‘Scheme Circular’).
The Transaction remains subject to the sanction of the Scheme by the High Court of Justice of England and Wales, the satisfaction of certain antitrust conditions, and the satisfaction or waiver (if applicable) of certain other customary closing conditions as set out in Part III of the Scheme Circular.
Capitalized terms in this announcement, unless otherwise defined, have the same meanings as set out in the Scheme Circular.
Source: Company Press Release