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CARY, N.C. — Cornerstone Therapeutics, a specialty pharmaceutical company focused on commercializing products for the hospital and adjacent specialty markets, on Monday announced that its stockholders have approved, at a special stockholder meeting, the previously announced merger agreement, under which Chiesi Farmaceutici S.p.A. will acquire all of the outstanding common shares of Cornerstone for $9.50 per share in cash.
Votes for the adoption of the merger agreement totaled approximately 22.5 million shares, or 83.7% of Cornerstone's outstanding shares of common stock.
Approximately 4.4 million shares, or 50.2% of the shares not owned by Chiesi or any of its subsidiaries or by any officer or director of Cornerstone, voted for the merger.