Kendle Announces Postponement of 2011 Annual Meeting
CINCINNATI, May 6, 2011 /PRNewswire/ -- Kendle (Nasdaq: KNDL ), a leading, global full-service clinical research organization, today announced the Company is postponing its Annual Meeting of Shareholders due to its merger agreement with INC Research, LLC. The annual meeting had been scheduled for May 19, 2011, in Cincinnati, Ohio. Kendle announced May 4, 2011, that it has signed a merger agreement with INC Research. The merger transaction requires the approval of Kendle's shareholders.
The annual meeting was postponed to provide shareholders adequate information and time to review the proposed merger. At a later date, Kendle's Board of Directors will establish a new record date and meeting date for the annual meeting and the Company will send a revised annual meeting notice and proxy statement to shareholders.
Kendle believes it is appropriate to avoid the unnecessary cost of holding both an annual meeting to address the five proposals included in the Proxy Statement sent April 15, 2011, and another special shareholders' meeting to approve the merger.
Kendle International Inc. (Nasdaq: KNDL ) is a leading global clinical research organization providing the full range of early- to late-stage clinical development services for the world's biopharmaceutical industry. Our focus is on innovative solutions that reduce cycle times for our customers and accelerate the delivery of life-enhancing products to market for the benefit of patients worldwide. As one of the world's largest global providers of Phase I-IV services, we offer experience spanning more than 100 countries, along with industry-leading patient access and retention capabilities and broad therapeutic expertise, to meet our customers' clinical development challenges.