Enzon shareholders to vote on sale on Jan. 27

AP News
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Posted: Dec 22, 2009 5:18 PM

Enzon Pharmaceuticals Inc. said Tuesday it will hold a shareholder meeting on Jan. 27, 2010, where its stockholders will be able to vote on the sale of most of the company's business.

The meeting is open to shareholders of record as of Dec. 7. In November, Enzon agreed to sell most of its business to sigma-tau Group, an Italian drugmaker, for as much as $327 million in addition to royalty payments. Enzon said it plans to focus on its experimental cancer drugs and technologies after the sale.

Enzon also said a mandatory federal review of the sale has ended.