Akzo Nobel recieves offer for Organon BioSciences.Akzo Nobel, Arnhem, The Netherlands, has announced that it has received an offer for the purchase of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Organon or·ga·non or or·ga·num n. pl. or·ga·nons or or·ga·nums or or·ga·na 1. An organ. 2. A set of principles for use in scientific investigation. organon pl. organa [Gr.] organ. BioSciences N.V., from Schering-Plough for EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 11 billion. Due to this intended sale, Akzo Nobel will no longer be proceeding with the partial IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. of Organon BioSciences that was planned. Akzo Nobel's Board of Management and its Supervisory Board met on March 11 and approved the sale. The transaction could be completed by the second half of 2007, pending regulatory approval. |
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