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Bioxyne Ltd Announces Termination Of Proposed Acquisition Of Vitality Devices Pty Ltd

Wednesday, 22 May 2013 09:10pm EDT 

Bioxyne Ltd announced that the proposed acquisition of Vitality which was announced to the ASX on February 18, 2013, has been terminated. Despite securing various regulatory approvals, current market uncertainties together with issues relating to the distribution agreements, which arose during the due diligence process, have resulted in a higher risk profile of the proposed transaction when compared to the initial findings. Bioxyne has undertaken extensive negotiations with Vitality, and the Licensors, in order to resolve the identified issues and has been unable to reach an outcome that is satisfactory for all parties. 

Company Quote

-0.0010 -6.67%
8:06pm EDT