Progen Pharmaceuticals Limited - Avexa Limited Merger Update

Published: Jan 30, 2009

BRISBANE, Australia--(BUSINESS WIRE)--The directors of Progen Pharmaceuticals Limited (“Progen”) (ASX:PGL) (NASDAQ:PGLA) confirm their unanimous recommendation for the proposed merger with Avexa Limited (“Avexa”) (ASX:AVX). The board believes that the current merger proposal with Avexa has the potential to deliver value in excess of $1.35 per share and hence is in the best interests of shareholders as a whole.

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