Gilead to acquire CV Thera for $1.4B
As the Marketletter was going to press, the USA's Gilead Sciences announced that it was to acquire CV Therapeutics for $1.4 billion, or $20 per share. Gilead says the transaction, which is intended to close in the second quarter, will be financed through available cash in hand and is expected to be accretive to the firm's earnings in 2011. The move follows the rejection of Japanese drug major Astella's $16-a-share offer earlier this month (Marketletter March 2). Further details will follow next week.
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