Intercell AG To Acquire Iomai (IOMI) for $6.60/Share
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Intercell AG and Iomai Corporation (Nasdaq: IOMI) entered into a definitive agreement pursuant to which Intercell will acquire Iomai for USD 6.60 per share representing a fully diluted equity value of approximately USD 189 million.
Shares of IOMI closed at $2.92 yesterday.
The transaction has been unanimously approved by the Boards of Directors of both companies and is subject to customary closing conditions including antitrust clearances, clearance by the Committee on Foreign Investment in the United States and the approval of the holders of a majority of Iomai's shares.
Shareholders holding over 50 percent of Iomai's total shares outstanding have entered into agreements to vote in favour of the combination.
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