Updated on 13 August 2012
The board of Biota has recommended shareholders to vote in favor of the scheme
Singapore: The Supreme Court of Victoria, Australia, has ordered a meeting of Biota Holdings shareholders to consider and vote on the previously announced scheme of arrangement to form Biota Pharmaceuticals listed on NASDAQ by the merger of Biota with Nabi Biopharmaceuticals.
Biota is a leading anti-infective drug development company based in Melbourne Australia, with key expertise in respiratory diseases, particularly influenza. The board of Biota unanimously recommended that Biota shareholders vote in favor of the scheme at the meeting, in the absence of a superior proposal. Subject to the same qualification, each director of Biota intends to vote all the Biota shares held or controlled by them in favor of the scheme at the meeting of Biota shareholders.
The meeting is to be held on Tuesday, September 25, 2012. Nabi filed its definitive proxy statement with the Securities and Exchange Commission on August 7, 2012.