JAZZ - GW Pharmaceuticals Stockholders Approve Acquisition by Jazz Pharmaceuticals
A big merger at the intersection of the marijuana and pharmaceutical industries is one step closer to completion. On Friday, shareholders of GW Pharmaceuticals (NASDAQ: GWPH) approved its acquisition by a subsidiary of Jazz Pharmaceuticals (NASDAQ: JAZZ) , both companies announced in a joint press release. The approval is one of the final steps required to fuse the pair together.
The deal, which was unexpected by most, was originally announced in February. Jazz agreed to pay $7.6 billion in a cash-and-stock transaction for GW Pharmaceuticals; at the time, that price represented a 50% premium to the latter's stock price the day before the announcement.
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GW Pharmaceuticals Stockholders Approve Acquisition by Jazz Pharmaceuticals