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Labopharm Inc. (DDS.TO) Shareholders Vote To Approve Acquisition By Paladin Labs Inc. (CC:PLB)


10/5/2011 2:05:02 PM

Paladin Labs Inc. ("Paladin")(TSX: PLB) and Labopharm Inc. ("Labopharm")(TSX: DDS) today announced that at the Special Meeting of Labopharm shareholders (the "Meeting") held today, Labopharm shareholders voted to pass the special resolution (the "Arrangement Resolution") approving a plan of arrangement by which Chimigen Inc., a wholly-owned subsidiary of Paladin, will acquire all of the issued and outstanding common shares of Labopharm (the "Arrangement") at a price of $0.2857 per share in cash. 73.24% of the shares voted at the Meeting were cast in favour of the Arrangement Resolution.

Read at Canada NewsWire

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