Zeneca and Cosun complete seeds merger.WILMINGTON, Del.--(BUSINESS WIRE)--August 12, 1996--Zeneca Group PLC (NYSE NYSE See: New York Stock Exchange :ZEN) and Cosun (formerly known as Suiker Unie) announced today that they have successfully completed due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , finalized See finalization. negotiations and signed contracts for the merger of their global seeds businesses, Zeneca Seeds and Royal VanderHave Group. Clearance by the appropriate regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has been obtained. Each company will own 50 percent of the shares in the new holding company which will be known as Zeneca VanderHave and will have its headquarters in Kapelle, the Netherlands. The board of management consists of senior managers from both Zeneca and VanderHave. Mr. K.B. Geling has been appointed Chairman. Details of the merger were previously announced on 21 February, 1996. Zeneca Inc. is a $2.8 billion bioscience bioscience /bio·sci·ence/ (-si´ens) the study of biology wherein all the applicable sciences (physics, chemistry, etc.) are applied. bi·o·sci·ence n. See life science. business with approximately 6,000 employees at 53 locations in 24 states. Zeneca Inc. is a wholly-owned subsidiary of the UK-based Zeneca Group PLC (NYSE:ZEN), a major $7.6 billion international bioscience business engaged in the research, development, manufacture and marketing of ethical (prescription) pharmaceuticals, agricultural and specialty products and the supply of healthcare services. CONTACT: Media Contact: Judith Auchard Zeneca Inc. (302) 886-3638 |
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