Portland-based Paulson Capital said Tuesday that shareholders had voted overwhelmingly to approve a proposed merger with Massachusetts-based Variation Biotechnologies Inc.
Paulson's investment-banking division will not leave Portland as part of the deal. But Variation Biotechnologies will essentially take over Paulson's Nasdaq listing and become a publicly traded company. Paulson shareholders will own stock in the combined venture assuming it receives regulatory approvals.
Paulson sold its retail brokerage arm, which included most of its workforce, to a Florida company in 2012.
-- The Oregonian