Shareholders of Canadian medical isotope supplier Nordion Inc voted on Friday to support a friendly $805 million takeover offer by U.S.-based Sterigenics International, clearing a major hurdle facing the deal.More than 76 percent of votes cast by shareholders backed the offer, satisfying a requirement for two-thirds support, Nordion Chairman Bill Anderson said during the company's annual and special meeting in Ottawa.Nordion is one of the world's leading producers of molybdenum-99, an isotope used in medical imaging. To get its raw material, Nordion depends on an aging nuclear reactor run by state-owned Atomic Energy of Canada Ltd (AECL) in Chalk River, Ontario. But AECL will not produce reactor-based medical isotopes beyond 2016 and Nordion does not have an alternative supply.The company announced a strategic review process in January 2013.
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 0.16% or $-0.021/share to $12.71. In the past year, the shares have traded as low as $7.13 and as high as $12.98. On average, 1422320 shares of NDZ exchange hands on a given day and today's volume is recorded at 670774.
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