Canadian medical isotope supplier Nordion Inc said it would delay the shareholders meeting that had been scheduled for Tuesday by a week to give it time to try to get more support for a $758 million takeover offer by U.S.-based Sterigenics International. An initial proxy vote on the takeover fell short of required shareholder support. As of the May 23 proxy voting deadline, 64.8 percent of shares voted were in favor of the deal, falling short of the required 66-2/3 percent support, Nordion said in a release.About 71.4 percent of all outstanding shares had been voted by proxy on the deal.Sterigenics, a sterilization services provider owned by private equity firm GTCR LLC, raised its takeover offer for Nordion to $758 million earlier in May from $727 million after Nordion received a rival bid from an unnamed buyer. .Sterigenics has refused to raise its offer further, Nordion said.
Nordion Inc. (Nordion) is a global health science company, engaged providing products and services used for the prevention, diagnosis and treatment of disease. Shares of NDZ fell by 0.41% or $-0.05/share to $12.09. In the past year, the shares have traded as low as $7.13 and as high as $12.52. On average, 1408380 shares of NDZ exchange hands on a given day and today's volume is recorded at 1107196.
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