Less Than 100,000 Additional "FOR" Votes Required for Integra Merger
IRVINE, California, October 26 /PRNewswire-FirstCall/ -- IsoTis, Inc. (NASDAQ: ISOT) ("IsoTis"), an orthobiologics company, today reported that less than 100,000 votes "FOR" are needed 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.
Today's special meeting of stockholders will remain open throughout the day to allow for additional votes to be cast. If insufficient votes are cast in favor of the Integra merger at today's meeting, IsoTis will adjourn the meeting to October 30, 2007.
Of the approximately 3.7 million shares present in person or by proxy at today's meeting, approximately 3.5 million shares voted "for" the merger with Integra, representing approximately 94.4% of the votes cast to date and approximately 49.0% of all outstanding shares at the record date.
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 its stockholders. If IsoTis is unable to obtain the vote necessary to approve the proposed transaction, the company believes it will have to seek bankruptcy protection.
IsoTis is an orthobiologics company that develops, manufactures and
|SOURCE IsoTis Inc|
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