Emergent BioSolutions Announces Plan to Implement Tax-Free Spin-Off of Biosciences Business Into a Separate Publicly-Traded Company
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Emergent BioSolutions (EBS) to Spin Biosciences Business Unit into Separate, Publicly-Traded Company
August 6, 2015 7:28 AM EDTEmergent BioSolutions (NYSE: EBS) announced that its Board of Directors has authorized management to pursue a tax-free spin-off of the company's Biosciences business into a separate, stand-alone publicly-traded company. The spin-off is expected to create two independent public companies with distinct strategic plans, growth strategies, and operational and development priorities.
The new Biosciences company, to be named at a later date, will focus on providing novel oncology and hematology therapeutics to meaningfully improve patients' lives. The core technology of the Biosciences company will be its ADAPTIR platform applied to immuno-oncology. Emergent BioSolutions... More
