Bristol-Myers Squibb closes tender offer for Kosan
US drug major Bristol-Myers Squibb says that stockholders of Kosan Biosciences, for which it made a $190.0 million takeover bid last month (Marketletter June 9, have tendered around 41,449,606 shares, including 1,682,151subject to guaranteed delivery procedures, representing about 97.1% of the shares outstanding. According to the terms of B-MS' tender offer for all of the outstanding common stock of Kosan, shares that were validly tendered and not withdrawn have been accepted for payment. The tender offer expired at midnight EDT on June
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