Theratechnologies says ISS, Glass Lewis recommend vote ‘FOR’ Future Pak plan

Theratechnologies (THTX) announces that two leading independent proxy advisory firms, Institutional Shareholders Services and Glass Lewis & Co., have each recommended that the shareholders of the Company vote “FOR” the special resolution to approve the plan of arrangement involving the Company and CB Biotechnology, an affiliate of Future Pak, a privately held contract manufacturer, packager and distributor of pharmaceutical and nutraceutical products. Pursuant to the Arrangement, the Purchaser will acquire all the issued and outstanding common shares of the Company for a price of US$3.01 per Share in cash plus one contingent value right per Share to be issued by the Purchaser, less any applicable withholdings. The CVRs provide the right to additional aggregate cash payments of up to US$1.19 per CVR if certain Company milestones as described in the management proxy circular are achieved.