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Millennium to merge BioTherapeutics
31 Jan 2000
Executive Summary
Millennium Pharmaceuticals will purchase the outstanding stock it doesn't already own in its Millennium BioTherapeutics subsidiary from Eli Lilly, which invested $20mm two-and-a-half years ago for an 18% stake. Millennium will issue Lilly about 360,000 shares of its own stock (worth $5.4mm at its $15 market price). Millennium will also issue 380,000 shares for current BioTherapeutics options that will be converted to options to buy Millennium stock.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Acquisition
- Partial Acquisition
- Payment Includes Stock
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Millennium to merge BioTherapeutics
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