Reata Pharmaceuticals Stockholders Approve Merger Transaction With Biogen Inc.
Portfolio Pulse from Benzinga Newsdesk
Reata Pharmaceuticals, Inc. (NASDAQ:RETA) announced that its stockholders have approved the company's acquisition by Biogen Inc. Approximately 99.65% of the votes cast by the company's Class A and Class B common stockholders approved the merger. The expected closing date of the merger is September 26, 2023.
September 21, 2023 | 2:14 pm
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POSITIVE IMPACT
Biogen Inc. is set to acquire Reata Pharmaceuticals following approval from Reata's stockholders. This could potentially lead to a rise in Biogen's stock price.
The approval of the merger by Reata's stockholders brings Biogen one step closer to acquiring the company. This could lead to increased investor confidence and a potential rise in Biogen's stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Reata Pharmaceuticals' stockholders have approved the company's acquisition by Biogen. This could potentially lead to a rise in the company's stock price.
The approval of the merger by Reata's stockholders is a significant step towards the completion of the acquisition. This could lead to increased investor confidence and a potential rise in the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100