Stockholders of E-Z-EM, Lake Success, N.Y., have voted in favor of the company’s proposed acquisition by contrast agent firm Bracco Imaging, of Milan, Italy.
Under the terms of the agreement, shareholders will receive $21 per share in cash, resulting in a total transaction worth of approximately $241 million. E-Z-EM will merge with Bracco’s U.S.-based subsidiary, Bracco Diagnostics Inc., which is based in Princeton, N.J.
The deal, initially proposed during October of last year, is expected to close on or about April 1, pending the satisfaction or waiver of the agreement’s closing conditions.
