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Thursday, 10 January, 2002, 20:11 GMT
Huntingdon sale goes through
Animal rights demonstration outside Huntingdon research lab
Huntingdon has been the target of animal rights protests
The deal to sell the UK drug-testing firm Huntingdon Life Sciences to the US group Life Sciences Research (LSR) has been completed.

Huntingdon agreed to a takeover bid from LSR last October, and on Thursday said shareholders owning 89.5% of the share capital had accepted the deal - enough to make the offer unconditional.

LSR was set up last year for the purpose of buying Huntingdon, which has been the targeted by campaigners protesting against its use of animals in drug testing.

Huntingdon's market listing will now move to the New York Stock Exchange, and its London listing will be cancelled with effect from 24 January.

Bank turns back on Huntingdon

On Wednesday it emerged that Huntingdon had lost one of its main backers, in a further sign that investors are becoming wary of being associated with the controversial firm.

Investment bank Stephens Group, Huntingdon's biggest shareholder and one of its leading creditors, said it planned to sever all ties with the company by the end of the month.

All of Stephens' interests in HLS will be taken over by as yet unnamed new investors, the US-based bank said.

The move was a fresh blow to Huntingdon, which has struggled to attract investment since being targeted by campaigners.

See also:

09 Jan 02 | Business
US bank turns back on Huntingdon
28 Mar 01 | Business
Lab firm ditched by share brokers
22 Mar 01 | Business
Huntingdon unveils more losses
29 Jan 01 | Business
US group bails out Huntingdon
19 Jan 01 | Business
Research industry under threat
17 Apr 01 | Business
Protesters target lab firm customer
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