Reata Pharma Stockholders Approve Acquisition By Biogen

(RTTNews) - Reata Pharmaceuticals Inc. (RETA) said that its stockholders have approved the company's previously announced acquisition by Biogen Inc. (BIIB).

Reata said that about 99.65 percent of the votes cast by the Company's Class A common stockholders and Class B common stockholders voted to approve the Merger, which represents approximately 87.99 percent of the total voting power of the shares of the Company's Class A common stock and Class B common stock entitled to vote at the special meeting.

The companies expect to close the merger on September 26, 2023.

In July, Biogen agreed to acquire Reata Pharmaceuticals for $172.50 per share in cash, reflecting an enterprise value of around $7.3 billion.