Seikagaku Corporation (TSE:4548) agreed to acquire Dalton Chemical Laboratories Inc. from individuals for CAD 41 million on February 21, 2020. Seikagaku Corporation (TSE:4548) concluded the agreement to acquire Dalton Chemical Laboratories Inc. from individuals on February 28, 2020. Post completion, Dalton Chemical Laboratories Inc. will become wholly owned subsidiary of Seikagaku Corporation. Dalton Chemical Laboratories Inc. has reported operating income of CAD 1.93 million and net income of CAD 1.74 million for the period ended April 30, 2019. The Board of Directors of Seikagaku Corporation has passed the resolution for transaction. Completion is scheduled on mid to late March 2020. The effect of transaction on the consolidated business results for the fiscal year ending March 2020 is not material. Peter Mendell and Mark Firman of Davies Ward Phillips & Vineberg LLP acted as legal advisor to Seikagaku Corporation. Seikagaku Corporation (TSE:4548) completed the acquisition of Dalton Chemical Laboratories Inc. from individuals on March 24, 2020.