Bio-Technology General Corp. and Gynex Pharmaceuticals Inc.announced that stockholders' meetings to approve a merger ofthe two companies will be held Aug. 6.
If approved by stockholders, the merger will be completedwithin days of the meetings.
Bio-Technology General (NASDAQ:BTGC) and Gynex(NASDAQ:GYNX) announced on March 10 a definitive agreementto merge Gynex with a wholly owned subsidiary of BTG. Underthe agreement approved by both boards of directors, BTG willexchange newly issued shares of common stock for alloutstanding Gynex common stock at a fixed rate of 0.61 BTGshares for each Gynex share. The ratio will not vary regardlessof any stock price fluctuations that occur prior to the merger.
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