Scots life sciences pioneer in US takeover
Collagen Solutions, the Glasgow-based life sciences firm, is set to become part of USbased Rosen’s Diversified with its share listing disappearing around the middle of next month.
The Scots firm said the takeover offer for the company, which was unveiled this summer, had become unconditional in all respects. It has urged shareholders who have yet to accept the Rosen’s offer to do so as soon as possible.
The last day of trading in Collagen shares is likely to be November 16 with the company’s listing on the Alternative Investment Market in London cancelled with effect from November 17.
Rosen’s said it had acquired or has agreed to acquire shares representing 92.61 per cent of the Collagen shares currently in issue.
Rosen’s Diversified Inc, or RDI, is a multi-billion dollar, family-owned and controlled business which is headquartered in Minnesota. It sells a range of food, agricultural and scientific products into more than 30 countries and has some 4,500 employees.
Collagen Solutions is set to become part of RDI’S life sciences division.
Jamal Rushdy, chief executive of Collagen Solutions, said: “We have made tremendous progress in our vision to be the industry’ s first choice for regenerative biomaterials.
“We believe that being part of RDI will generate significant growth opportunities and create enhanced value for the benefit of all stakeholders and in particular our employees, customers and suppliers.
“I am optimistic and excited for the potential for continued momentum and greater op port unity for Collagen Solutions .”