North American Biologicals Inc. said it has signed definitiveagreements to acquire the international plasma-basedbiologicals business of Continental Pharma Cryosan Inc.
NABI also said that it is acquiring from CPCI all 6.2 millionshares of NABI common stock (NASDAQ:NBIO) held by CPCI,representing 42 percent of shares outstanding, and all of itspreferred stock. The acquired shares will be retired. CPCI hasheld a controlling interest in NABI since 1984.
NABI of Miami will pay $20 million in cash and cashequivalents to CPCI of Montreal, plus about $7 million in cashbased on sales over a minimum period of seven years.
The stock closed at $2.31, down 13 cents.
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