BioCentury
ARTICLE | Company News

Hospira to buy BresaGen

August 15, 2006 12:35 AM UTC

On Friday, Hospira (HSP) proposed to acquire biomanufacturing company BresaGen (ASX:BGN; BSGNY) for A$0.14 per share in cash, or about A$21 million (US$16.1 million) based on BGN's 149.9 million shares outstanding. The deal price is a 40% premium to BGN's close of A$0.10 on Aug. 4, the last day before trading in the stock was halted. Separately, Hospira purchased 29.9 million BGN shares at A$0.14 from autoimmune and inflammation company CBio (Brisbane, Australia), BGN's major shareholder, giving Hospira a 19.95% stake in BGN. ...