AVEO - Aveo Oncology shareholders approve acquisition by LG Chem

• Aveo Oncology ( NASDAQ: AVEO ) shareholders have approved the company's proposed acquisition by LG Chem ( OTCPK:LGCLF ).
• In October 2022, LG Chem ( OTCPK:LGCLF ) proposed to acquire Aveo Oncology ( AVEO ) for $15/share in an all-cash transaction with an implied equity value of $566M on a fully diluted basis.
• Completion of the transaction remains subject to certain customary closing conditions, including clearance of the transaction by the Committee on Foreign Investment in the United States.
• Upon completion of the transaction, AVEO will operate as the U.S. commercial foundation for LG Chem Life Sciences' oncology segment and will immediately establish LG Chem's commercial presence in oncology through AVEO's lead product, FOTIVDA (tivozanib).
• The transaction is expected to close in early 2023.

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