Jubilant Organosys completes $255 million acquisition of Draxis Health

By Lisa Kerner

Charlotte, N.C., May 28 - Draxis Health Inc. said its common stock is expected to cease trading on the Nasdaq Global Market and the Toronto Stock Exchange at market close on Thursday now that the company has been acquired by Jubilant Organosys Ltd.

According to a Draxis Health news release, all of the company's common shares have been acquired by an indirect wholly owned subsidiary of Jubilant Organosys for $6 per share.

Draxis Health shareholders approved the $255 million deal at a special meeting on Friday.

Jubilant Organosys is a Noida, India, integrated pharmaceutical company.

Toronto-based Draxis Health provides sterile products, non-sterile products and radiopharmaceuticals.

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