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Shareholders wreck Nycomed and Ivax merger

This article was originally published in Clinica

Executive Summary

The proposed merger between US company Ivax and Hafslund Nycomed has been wrecked by displeased shareholders of the Norwegian company. For the deal to go ahead, approval by more than two-thirds of Nycomed shareholders was required. Opposition to the merger plan had built gradually and escalated last week, says a Nycomed spokesman. Although the company believes it would receive the support of a majority of its shareholders, it considers a two-thirds majority "highly unlikely" .

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