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UPDATE 1-Silence Therapeutics in reverse takeover talks
September 29, 2009 / 10:16 AM / 8 years ago

UPDATE 1-Silence Therapeutics in reverse takeover talks

* Merger talks expected to be treated as reverse takeover

* Silence shares suspended from trading (Adds details)

LONDON, Sept 29 (Reuters) - British gene-silencing company Silence Therapeutics (SLN.L) said on Tuesday it was in merger talks with an unnamed company and its shares had been suspended from trading.

It said the talks were expected to be treated as a reverse takeover, a move commonly used to allow a private company to get a stock market listing without having to perform an initial public offering. Instead, a company uses the target’s shares to give it a market presence.

The announcement followed a report the company was in talks for a reverse takeover deal involving a privately held U.S. company.

Gene silencing allows scientists to turn off the genes that can cause diseases, allowing the targeting of conditions such as heart disease and arthritis. (Reporting by Ben Deighton; Editing by Dan Lalor)

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