Reata Pharma (RETA) Stockholders Approve Merger Transaction With Biogen (BIIB)
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Reata Pharmaceuticals, Inc. (Nasdaq: RETA) (“Reata,” the “Company,” “our,” “us,” or “we”), a global, biopharmaceutical company focused on developing and commercializing novel therapies for patients with severe diseases, announced that at a special meeting held today, preliminary results indicate that the stockholders of the Company voted to approve the Company’s previously announced acquisition (the “Merger”) by Biogen Inc., a Delaware corporation (“Biogen”).
Approximately 99.65 percent of the votes cast by the Company’s Class A common stockholders and Class B common stockholders, voting as a single class, entitled to vote at the special meeting, voted to approve the Merger, which represents approximately 87.99 percent of the total voting power of the shares of the Company’s Class A common stock and Class B common stock entitled to vote at the special meeting. The Company will file a Current Report on Form 8-K disclosing the full results of the vote. The expected closing date of the Merger is September 26, 2023.
"We are pleased to announce that our stockholders have approved our acquisition by Biogen. This marks a significant milestone in Reata's journey, and I thank our stockholders for their strong support,” said Warren Huff, Chairman and Chief Executive Officer at Reata. “We believe the acquisition by Biogen will significantly advance Reata’s vision of developing and delivering novel therapies to patients with rare diseases."
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