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Millennium to merge BioTherapeutics

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
    • Payment Includes Stock
    • Partial Acquisition

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