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NxStage shareholders approve FMC acquisition

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Shareholders of NxStage Medical Inc. have approved the acquisition agreement with Fresenius Medical Care (FMC). According to FMC, approximately 72% of outstanding shares voted in favor of the transaction. The approval of the merger agreement fulfills an important condition for the full acquisition of NxStage Medical Inc.

If the transaction is approved by the Federal Trade Commission, shareholders would receive $30 per share in cash. The payment represents a premium of approximately 30% over NxStage’s closing share price on Aug. 4, the last trading day prior to the public announcement of the acquisition. The cost to Fresenius, if the merger is approved, is approximately $2 billion.

NxStage and FMC have each received a request for additional information from the FTC regarding the acquisition, according to an SEC filing. The request extends the waiting period required by the Hart Scott Rodino Act until 30 days after both companies comply to the request.