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Miraculins Makes Unsolicited Bid to Acquire Dx Shop IBEX

Nov 17, 2006
NEW YORK (GenomeWeb News) — Biomarker research company Miraculins today said it has made an unsolicited offer to acquire Montreal-based IBEX, a cancer and arthritis diagnostics company.
 
"The cancer diagnostic programs of Miraculins and IBEX are extremely complementary, and future opportunities for our companies are enhanced by this transaction", Miraculins President Jim Charlton said in a statement.
 
Miraculins said it has contacted IBEX’s board of directors with a proposal that IBEX shareholders receive one common share in Miraculins for every five IBEX shares.
 
That would leave Miraculins shareholders owning 77 percent of the joined company, while IBEX shareholders would hold the remaining 23 percent.
 
Miraculins said it set the offer at a 65-percent premium over IBEX’s closing price for the last 50 days on Toronto’s Stock Exchange.

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