Proxy firms urge Nightstar shareholders to vote for acquisition by Biogen

UK-based clinical-stage gene therapy company Nightstar Therapeutics (Nasdaq: NITE) today announced that two leading independent proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co have recommended that Nightstar shareholders vote "FOR" the proposals relating to the proposed acquisition of Nightstar by an affiliate of US biotech major Biogen (Nasdaq: BIIB) in a transaction valued at $877 million,

To become effective, the transaction must be approved by Nightstar shareholders at a special General Meeting and at a Court Meeting convened by the High Court of Justice in England and Wales, both on May 8.

The Nightstar board of directors has recommended that shareholders vote “FOR” the proposed transaction. The transaction is expected to become effective by mid-year 2019, subject to the satisfaction (or, where applicable, waiver) of certain closing conditions, including receipt of the requisite approvals of Nightstar shareholders.