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Article: North American Vaccine hoping for rescue buyer.(Business)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- November 2, 1999
- Author:
CopyrightCOPYRIGHT 1999 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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North American Vaccine Inc., one of the area's largest biotechnology companies, said yesterday it is talking with a potential buyer. But it would not reveal the bidder's identity unless an agreement on a sale has been reached.
Officials at the Columbia, Md., vaccine company could not be reached for comment yesterday, but in a release, North American Vaccine Inc. said the unidentified bidder is making a stock offer in line with the recent trading price of North American Vaccine shares, which closed yesterday at $5.38 on the American Stock Exchange.
North American's stock has dropped as much as 33 percent since Oct. 4, the day before it said Abbott ...