Sep 19 2009
Zila, Inc. (Nasdaq: ZILA) today announced the completion of the merger with a subsidiary of TOLMAR Holding, Inc. Pursuant to the merger agreement between the companies, at the effective time of the merger all outstanding shares of Zila’s common stock were converted into the right to receive $0.45 per share in cash.
As a result of the transaction, Zila has become a wholly owned subsidiary of TOLMAR Holding, Inc., which also owns Tolmar, Inc., a U.S. based privately held, pharmaceutical research, development, manufacturing and commercial operations company. TOLMAR Holding, Inc. expects Zila to continue as a stand alone business unit.
Effective with the close of trading today, Zila’s common stock has ceased to be traded on the Nasdaq Market.