Norwood Immunology buys flu vaccine company Bestewil

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Norwood ImmunologyLONDON (AFX) - Norwood Immunology Ltd said, following a revision of terms for the acquisition of Bestewil Holding Ltd, holding company of Virosome Biologicals Ltd, it has agreed to buy the company for around 48 mln shares and 3.5 mln eur in cash.

Earlier this month Norwood allowed an option to buy the Dutch flu vaccine company lapse, having paid 725,00 eur for the call. But the company said now the revised acquisition terms have been agreed it is to proceed with the purchase.

Based on the company's closing mid market share price of 20 pence on October 26, and a 0.67 eur/1 stg exchange rate this is equivalent to a total consideration of 11.9 mln stg.

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