Yourgene Health PLC - Manchester, England-based molecular diagnostics group - Reports court-sanctioned scheme of arrangement to facilitate takeover by Novacyt SA has been approved by shareholders at a court and general meeting. Around 99% of shareholders who voted were in favour of the scheme. Takeover now requires the scheme of arrangement to be court sanctioned. These timings will be provided in due course.
In July, Yourgene Health agreed to a cash takeover offer from Novacyt SA that valued Yourgene at around GBP17 million. The companies said the acquisition "strongly aligns" with Novacyt's post-Covid strategy, which included pursuing strategic mergers and acquisitions to support its long-term growth and prioritised the twin objectives of geographic expansion and portfolio development.
Current Novacyt stock price: 80.30 pence
12-month change: down 27%
Current Yourgene stock price: 0.50 pence
12-month change: down 92%
By Jeremy Cutler, Alliance News reporter
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