BRIEF-Biocryst Pharma And Idera Pharma Sign Merger Agreement To Form New Company
REUTERS 7:54 AM ET 1/22/2018
Jan 22 (Reuters) - Biocryst Pharmaceuticals Inc(BCRX):
* BIOCRYST PHARMACEUTICALS AND IDERA PHARMACEUTICALS ANNOUNCE MERGER TO COMBINE CAPABILITIES TO SERVE MORE PATIENTS WITH RARE DISEASES
* IDERA PHARMACEUTICALS INC(IDRA) - ?MERGER AGREEMENT HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES?
* IDERA PHARMACEUTICALS INC(IDRA) - ROBERT INGRAM TO BE CHAIRMAN OF BOARD, VINCENT MILANO TO BE CEO OF COMBINED COMPANY
* IDERA PHARMACEUTICALS(IDRA) - UNDER TERMS OF MERGER AGREEMENT, EACH SHARE OF BIOCRYST COMMON STOCK WILL BE EXCHANGED FOR 0.50 SHARES OF NEW COMPANY STOCK
* IDERA PHARMACEUTICALS(IDRA) - UNDER TERMS OF MERGER AGREEMENT, EACH SHARE OF IDERA COMMON STOCK WILL BE EXCHANGED FOR 0.20 SHARES OF NEW COMPANY STOCK
* IDERA PHARMACEUTICALS(IDRA) - ?SIGNIFICANT STOCKHOLDER OF CO, BIOCRYST AGREED TO ENTER VOTING AND SUPPORT AGREEMENT AND HAS AGREED TO VOTE IN FAVOR OF DEAL?
* IDERA PHARMACEUTICALS INC(IDRA) - AFTER DEAL BIOCRYST STOCKHOLDERS WILL OWN 51.6 PERCENT OF STOCK OF COMBINED COMPANY, CO'S STOCKHOLDERS TO OWN 48.4 PERCENT
* IDERA PHARMACEUTICALS(IDRA) - COMBINED COMPANY, WHICH WILL BE RENAMED POST-CLOSING, WILL BE HEADQUARTERED AT CURRENT IDERA HEADQUARTERS
* IDERA PHARMACEUTICALS INC(IDRA) - STOCK ISSUANCE IN MERGER IS EXPECTED TO BE TAX-FREE TO STOCKHOLDERS Source text for Eikon: Further company coverage:
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