BioScience Managers to take control of Rex Bionics in deal with McLaren

Thu, 04 May 2017

By Paul McBeth May 4 (BusinessDesk) - Rex Bionics has been thrown an A$10 million lifeline by Australian fund manager BioScience Managers in exchange for control of the New Zealand robotics firm listed on the London Stock Exchange's AIM market. Shareholders will vote later this month on whether to approve a deal that would pour the company's business and assets into its Australian subsidiary, which would then sell A$7.5 million of shares to BioScience, lifting the fund manager's stake to 64 percent, Rex said in a notice to the London Stoc...

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