Tous Actualités
Suivre
Abonner Intercell AG

Intercell AG

euro adhoc: Intercell AG
Mergers - Acquisitions - Takeovers
IOMAI Acquisition granted clearance by US Authorities

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Company Information
11.07.2008
» Definitive proxy statement filed on July 10, 2008;
  Closing planned in first week of August;
  all preparations for full integration in place
» Approval processes for Japanese Encephalitis vaccine are on 
schedule;   following completed US FDA pre-approval inspection and 
ongoing   supplementary submissions, first approval is expected 
within   the next few months
Vienna (Austria), July 11, 2008 - Intercell AG today announced that, 
following review by the United States Securities and Exchange 
Commission (SEC), Iomai Corporation filed a definitive proxy 
statement on July 10, 2008 for Iomai stockholders regarding the 
proposed acquisition by Intercell of Iomai.  The parties have 
previously received notice of early termination of the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as 
amended, by the U.S. Department of Justice and clearance by the 
Committee on Foreign Investment in the United States (CFIUS) of the 
U.S. Department of the Treasury.
The acquisition still requires the approval of Iomai stockholders. 
The stockholder meeting during which the Iomai stockholder vote will 
occur will take place on August 1st.   Shareholders holding over 50 
percent of Iomai´s total shares outstanding have already agreed to 
vote in favour of the combination. It is anticipated that the final 
closing of the transaction should occur during the week of August 4. 
Intercell will now initiate the legal steps required in Austria in 
connection with the capital increase for the stock-for-stock exchange
component of the transaction.
Gerd Zettlmeissl, CEO of Intercell, said:  "It is very good to see 
the two companies coming together even faster than originally 
planned. We are very pleased that soon we can start to aggressively 
optimize the key product and technology synergies of this merger 
still this year. This timing goes alongside nicely with our expected 
approval dates for our JE-Vaccine coming up in the second half of 
2008 in the US, EU and Australia."
Transaction Terms
As previously announced, on May 12, 2008, Iomai and Intercell AG have
entered into an Agreement and Plan of Merger (the "Merger Agreement")
whereby Iomai has agreed to be acquired by Intercell AG subject to 
the terms and conditions of the Merger Agreement.   Under the terms 
of the Merger Agreement, Intercell will acquire Iomai for USD 6.60 
per share of Iomai´s common stock representing a fully diluted equity
value of Iomai of approximately USD 189 million (EUR 122 million).  
Iomai´s public shareholders, representing approximately 59 percent of
Iomai´s outstanding common stock will receive cash. Certain of 
Iomai´s largest shareholders (and their affiliates), together 
representing approximately 41 percent of Iomai´s outstanding common 
stock, have agreed to exchange their shares for Intercell stock at an
exchange ratio corresponding to a value of USD 6.60 per share of 
Iomai common stock upon closing.
end of announcement                               euro adhoc

Further inquiry note:

Intercell AG
Lucia Malfent
Head of Communications
Tel. +43 1 20620-303
lmalfent@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official market

Plus de actualités: Intercell AG
Plus de actualités: Intercell AG