Shield and Axis agree terms of merger:
This article was originally published in Clinica
Shield Diagnostics and Axis Biochemicals have agreed the terms of their all-share merger - which will result in Shield shareholders owning 54.4% of the new company and Axis the remaining 45.6%. Under the original proposal which was announced in December, Shield would have held 62% of the company. Shield plans to raise £12 million ($19 million) in a rights issue to fund the costs of the merger and for working capital.