MEIP - MEI Pharma postpones special meeting to vote on Infinity deal until July 23
2023-07-13 17:03:37 ET
- MEI Pharma Inc. ( NASDAQ: MEIP ) postponed a special meeting for holders to vote on its merger with Infinity Pharmaceuticals ( NASDAQ: INFI ).
- The holder vote was postponed to July 23 from a scheduled vote on Friday, according to a statement. The record date for holders to vote at the special meeting remains May 24.
- The postponement comes in the wake of an unsolicited offer by MEIP shareholders Anson Advisors and Cable Car Capital to buy the company for $8 per share , plus a contingent right value. MEIP has since rejected Anson and Cable Car's offer, stating that it was not superior to the Infinity deal.
- Proxy advisory firm ISS last Wednesday recommended that MEI Pharma ( MEIP ) and Infinity Pharmaceuticals ( INFI ) shareholders vote in favor of a planned merger between the two companies.
- In February, Infinity and MEI announced plans to merge in an all-stock deal that would have Infinity become a subsidiary of MEI.
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MEI Pharma postpones special meeting to vote on Infinity deal until July 23