Intrexon Corporation Completes Acquisition of Okanagan Specialty Fruits Inc.
Troutman Sanders was noted for being U.S. counsel for Intrexon Corporation in a Lexpert Magazine article about the company completing its acquisition of Okanagan Specialty Fruits Inc. by way of Canadian statutory plan of arrangement pursuant to which a wholly-owned subsidiary of Intrexon acquired all the securities of Okanagan for U.S. $41 million. Okanagan shareholders received $31 million in Intrexon common stock and $10 million in upfront cash, subject to an escrow hold-back.
Intrexon Corporation (NYSE: XON), according to its most recent earnings release, is “Powering the Bioindustrial Revolution with Better DNA™ to create biologically-based products that improve the quality of life and the health of the planet. The Company’s integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells.”
Okanagan is a “pioneering agricultural company behind the Arctic®-apple, the world’s first non-browning apple, based in Summerland, British Columbia.”
John Owen Gwathmey, Dave Meyers, Shona Smith, Jon Downs and Doug Boyle from the firm’s Corporate section and Mark Goldsmith from the firm’s Tax and Benefits section advised Intrexon on the deal.