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Mercia Asset Management PLC - regionally-focused specialist asset manager - Sells stake in Native Antigen Co Ltd to LGC, a global leader in the life sciences tools sector, for a total cash consideration of up to GBP18.0 million.
Mercia held a 29% fully diluted direct holding in NAC and will receive initial cash proceeds of GBP4.8million, with up to a further GBP0.4million receivable upon finalisation of customary closing working capital calculations.
Current stock price: 19.65 pence
Year-to-date change: down 24%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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