The board of Matrix Laboratories at its meeting held today, has approved the merger of Strides Acrolab with itself.According to a Matrix Lab release issued to the BSE, while the valuation exercise will be conducted by independent firm of Chartered Accountants, the two companies will check each others business. The proposed merger will be effective April 01, 2005 and is subject to shareholders' approval of both companies and other regulatory approvals, the release said.
