Endocyte stockholders approve merger agreement with Novartis

Endocyte (ECYT) announced that Endocyte’s stockholders approved the adoption of the merger agreement pursuant to which Novartis (NVS) will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1B, in cash. Approximately 99.8% of the votes cast at the meeting voted to approve the adoption of the merger agreement, representing approximately 69.5% of Endocyte’s outstanding common stock as of the record date. Subject to the satisfaction of customary closing conditions, the proposed merger is expected to close on or about December 21.
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