Nova, Scios plan merger

May 13, 1992|By Dow Jones News Service

MOUNTAIN VIEW, Calif. -- Scios Inc. and Baltimore-based Nova Pharmaceutical Corp. said they have agreed to merge.

In a news release today, the companies said holders of Nova Pharmaceutical common stock will exchange each of their shares for 0.39 share of Scios.

The combined company will be called Scios-Nova Inc., with headquarters in Mountain View. It will maintain a research facility in Baltimore.

The companies put the transaction value at $180 million.

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