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Impax shareholders approve merger with Amneal Pharmaceuticals

Impax Laboratories Inc.'s stockholders approved the company's merger with Amneal Pharmaceuticals LLC.

The shareholder approval was one of the requirements for the closing of the deal, which is expected to occur during the second quarter.

The closing of the transaction remains subject to certain regulatory approvals and satisfaction of customary closing conditions.

Impax and Amneal are merging in an all-stock transaction, in which Amneal Holdings members will own about 75% of the new company's shares and Impax shareholders will own about 25%.

The combined company will be called Amneal Pharmaceuticals Inc.