Aspreva, Galenica merger clears regulatory hurdle

By Lisa Kerner

Charlotte, N.C., Dec. 18 - The merger of Aspreva Pharmaceuticals Corp. and Galenica Group was granted final approval by the British Columbia Supreme Court, it was announced on Tuesday.

Galenica, through a wholly owned Canadian subsidiary, will acquire all of Aspreva's outstanding shares at a price of $26 per share in cash.

Aspreva shareholders approved the $915 million deal on Monday, according to a company news release.

The transaction is expected to close on Jan. 3, pending approval under the Investment Canada Act and other conditions.

Zurich-based Galenica develops, manufactures and markets pharmaceutical products, runs pharmacies, provides logistical services and access to databases and sets up networks.

Aspreva is a pharmaceutical company based in Victoria, B.C.

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