Nordion shareholders approve the Sterigenics acquisition


At least 2/3 of Nordion (NDZ +0.1%) shareholders approve the special resolution authorizing the company's acquisition by Sterigenics for $13/share. A hearing on the final order before the Ontario Superior Court of Justice will be held on June 11.

The transaction is contingent on NDZ having a cash balance of $300M at closing. At present, the company has $344M of cash and equivalents. The deal is expected to close in 2H 2014.

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