Amag Pharmaceuticals Inc. will not acquire lymphoma drug maker Allos Therapeutics Inc., as Amag’s shareholders voted down the deal Friday.
Amag said its shareholders voted against issuing new stock. The company agreed to buy Allos in July for $268 million in stock, giving Allos shareholders 0.1282 shares of Amag for each Allos share they owned. Amag will pay Allos a $2 million breakup fee.
Investment firm and Amag shareholder MSMB Capital Management opposed the deal and moved to replace five of the six directors on Amag’s board.
Allos, of Westminster, Colo., said its shareholders voted in favor of the sale at a separate meeting on Friday.
Amag makes Feraheme, a drug that is used to treat iron deficiency anemia in adults who have chronic kidney disease. Allos sells the lymphoma treatment Folotyn.
Shares of Amag, which is based in Lexington, Mass., fell 8 cents to $13.56 in midday trading. Allos stock shed 2 cents to $1.44.
