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Gilead steps up to buy CV Therapeutics for $20 per share
18 Mar 2009
Executive Summary
Gilead has emerged as the white knight for CV Therapeutics, offering $20 per share (valuing the deal at about $1.28bn) for the public cardiovascular company just weeks after Astellas launched a hostile bid of $16 per share. The price per share amounts to an 87% premium based on the ten-day average of CV's shares prior to the announcement of Astellas's offer. CV's board of directors immediately and unanimously approved Gilead's offer, and recommended that shareholders do the same.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Cash
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Gilead steps up to buy CV Therapeutics for $20 per share
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