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03 March 2015

FARRIS PARTNERS MACKAY-DUNN AND NAWATA LEAD INTREXON-OKANAGAN SPECIALTY FRUITS ACQUISITION

Farris represented Intrexon Corporation with a team led by partners, Hector MacKay-Dunn, Q.C. and Denise Nawata and included Michael Rawluk, Nikki Alvarez, Teresa Tomchak (Securities Regulatory), and Thom Ciz (Tax).

To view the full press release, please click here.

Intrexon Corporation (NYSE: XON), a leader in synthetic biology focused on collaborating with companies in health, food, energy, environment and consumer sectors, entered into an acquisition agreement with Okanagan Specialty Fruits Inc., the pioneering agricultural company behind the Arctic®-apple, the world’s first non-browning apple, based in Summerland, British Columbia.

Under the terms of the acquisition agreement, the transaction will be carried out by way of statutory plan of arrangement pursuant to which a wholly-owned subsidiary of Intrexon will acquire all the securities of Okanagan Specialty Fruits. Okanagan’s shareholders will receive US$31 million in Intrexon common stock and US$10 million in upfront cash, subject to certain escrow hold-back.  Consummation of the transaction, anticipated in the first half of 2015, is subject to customary closing conditions.

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