Shield wins Axis shareholders with better offer:
This article was originally published in Clinica
Executive Summary
Shield Diagnostics has been forced to improve its offer for homocysteine test rival, Axis Biochemicals, in order to secure the support of two key investors in the Norwegian company. The one-for-one share offer has been modified to 1.25 Shield shares for every one Axis. This changes the ownership ratio of Shield from 62% to 57%. The improved offer placates Tharald Brovig and venture capital company Mosvold-Farsund, who together own 13.7% of Axis.