BOCA RATON, Fla., Oct. 24 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals (Nasdaq: NABI) (the "Company") announced today that on October 18, 2007, it commenced mailing its definitive proxy statement to stockholders for approval of its proposed sale of its biologics strategic business unit and certain corporate shared services assets to Biotest Pharmaceuticals Corporation, a wholly owned subsidiary of Biotest AG, pursuant to an asset purchase agreement dated as of September 11, 2007. The Company has scheduled a special meeting of stockholders for Thursday, November 8, 2007 at 10:00 a.m. EST at the Bethesda Marriott, 5151 Pooks Hill Road in Bethesda, Maryland, to consider and vote on the proposed asset sale. Stockholders of record as of the close of business on October 10, 2007 will be entitled to vote at the special meeting.
The Company's Board of Directors has unanimously determined that the proposed asset sale is in the best interests of the Company and recommends that stockholders vote "FOR" the proposed sale.
Stockholders are encouraged to read the Company's definitive proxy
materials in their entirety as they provide, among other things, a detailed
discussion of the process that led to the proposed asset sale and reasons
behind the Board of Directors' unanimous recommendation. In addition, the
Company will be mailing stockholders a supplement to its definitive proxy
statement containing certain historical financial information of the
Company, which should be read in conjunction with the definitive proxy
statement. Stockholders who have questions about the asset sale or need
assistance in submitting their proxy or voting their shares should contact
the Company's proxy solicitor, Morrow & Co., Inc., to
|SOURCE Nabi Biopharmaceuticals|
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