AstraZeneca to acquire Fusion Pharmaceuticals

HAMILTON and BOSTON — In a recent meeting, Fusion Pharmaceuticals announced that its shareholders voted to approve the previously announced plan of arrangement with a wholly-owned subsidiary of AstraZeneca under the Canada Business Corporations Act. According to this plan, AstraZeneca will acquire all issued and outstanding shares of Fusion.

The arrangement received approval with 99.92 per cent of the votes cast by shareholders, voting as a single class. Additionally, 99.92 per cent of the votes cast by shareholders were in favour after excluding the votes of those shareholders whose votes are required to be excluded under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.

As of the close of business on April 16, 2024, the record date of the special meeting, there were approximately 84,965,608 shares issued and outstanding and entitled to vote. A total of 68,678,602 shares were voted at the special meeting representing approximately 80.83% of the issued and outstanding shares as of the record date.

As of April 16, 2024, the record date for the special meeting, there were about 84.97 million shares outstanding, all eligible to vote. At the meeting, 68.68 million shares were voted, representing approximately 80.83 per cent of the total shares.

The arrangement is subject to court approval and other customary closing conditions. The transaction is expected to be completed in the second quarter of 2024, pending the satisfaction of these conditions.