- Marrone Bio Innovations ( NASDAQ: MBII ) on Monday said its shareholders had approved the proposed merger agreement with Bioceres Crop Solutions ( BIOX ).
- BIOX and MBII announced the proposed deal in March, as per which BIOX would acquire MBII in an all-stock transaction .
- The companies had said that each MBII share will be exchanged at closing for BIOX shares at a fixed ratio of 0.088, representing a value of ~$236M.
- MBII on Monday said its shareholders met at a special shareholder meeting on July 8 and approved the proposal.
- MBII said the companies intend to close the deal on July 12.
- MBII stock -2.4% at $1.03 in morning trading, while BIOX was down 1.5% at $12.04.
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Marrone Bio Innovations shareholders approve merger deal with Bioceres Crop Solutions