IRVINE, California, October 11 /PRNewswire-FirstCall/ -- IsoTis, Inc. (NASDAQ: ISOT) ("IsoTis"), an orthobiologics company, today announced that it has adjourned the special meeting of stockholders it called to approve the acquisition of IsoTis by Integra LifeSciences Holdings Corporation (NASDAQ: IART) ("Integra") pursuant to an agreement and plan of merger dated as of August 6, 2007.
The special meeting of stockholders was held at 9 a.m. Pacific time today. An insufficient number of shares was present at the meeting to establish the quorum necessary to approve the proposed transaction. As a result, IsoTis determined to adjourn the meeting to October 23, 2007 until 7.30 a.m. Pacific time to permit additional time to collect the proxies necessary to establish a quorum and approve the acquisition by Integra.
The vast majority of IsoTis' stockholder base resides outside the United States of America, including thousands of retail stockholders, and many of these shares have not been voted. The adjournment of the meeting will provide these and other IsoTis stockholders additional time to vote their shares.
The IsoTis Board of Directors continues to believe unanimously that the interests of IsoTis' stockholders are best served by the acquisition by Integra, and that there are no feasible alternatives for the company and the stockholders.
If IsoTis is unable to obtain the vote necessary to approve the
proposed transaction, the company believes it will have to
|SOURCE IsoTis Inc|
Copyright©2007 PR Newswire.
All rights reserved