AVEO Oncology Stockholders Approve Merger With LG Chem

(RTTNews) - AVEO Oncology (AVEO) said that its stockholders approved the adoption of the agreement and Plan of Merger among LG Chem, Ltd. and AVEO.

As previously announced, under the terms of the merger agreement, AVEO stockholders will receive $15.00 per share in cash upon the closing of the transaction.

The stockholders also approved a non-binding, advisory proposal relating to certain compensation that may be paid or become payable to certain of AVEO's executive officers that is based on or otherwise relates to the merger between AVEO and LG Chem.

Completion of the transaction remains subject to certain customary closing conditions, including clearance of the transaction by the Committee on Foreign Investment in the United States. The transaction is expected to close in early 2023.