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Achillion shareholders approve $930M Alexion merger

Achillion Pharmaceuticals Inc.'s shareholders approved the company's $930 million merger agreement to be acquired by Boston-based Alexion Pharmaceuticals Inc.

Among the shareholders who voted, about 99% cast their vote in favor of the acquisition.

Under the agreement, Alexion agreed to pay $6.30 for every Blue Bell, Pa.-based Achillion share it acquires, in addition to further consideration in the form of nontradeable contingent value rights if Achillion meets certain clinical and regulatory milestones.

The companies plan to submit their filings under the Hart-Scott-Rodino Antitrust Improvements Act in January 2020.

Achillion expects the acquisition to close in the first half of 2020, subject to expiration or termination of the applicable waiting period under the act.