Gilead completes CV Thera acquisition

Gilead Sciences says that it has now completed its $1.4 billion acquisition of fellow US company CV Therapeutics, which it commenced  earlier this year after the latter became the subject of a hostile bid  from Japan's Astellas (Marketletter March 23).

On April 17, CV Therapeutics merged with a wholly-owned subsidiary of  Gilead. As a result, each outstanding share of CV Therapeutics not owned  by Gilead, its subsidiaries or CV Therapeutics has been automatically  converted into the right to receive $20.00 in cash, without interest,  subject to appraisal rights. CV Therapeutics stockholders who did not  tender their shares will receive a Notice of Merger and a Letter of  Transmittal that will instruct them as to how to receive the merger  consideration.