Tuesday, October 4, 2011

Xoma returning from the Bermuda Triangle

Xoma Ltd. is coming home, sort of.
The Berkeley-based biotech company (NASDAQ: XOMA) said Tuesday that it plans to change the jurisdiction of its incorporation from Bermuda to Delaware for greater legal, administration and other efficiencies. The move also will reduce Xoma’s exposure to potentially adverse tax legislation, the company said, and avoid potential blacklisting of its common shares by some pension funds or legislation that restrict their dealings with non-U.S. companies.

No comments:

Post a Comment