Mergers & Acquisitions

Oncology-focused biopharm company completes purchase of Guilford Pharmaceuticals

Published in Cancer Weekly, November 1st, 2005

MGI Pharma Inc (MOGN), an oncology and acute care-focused biopharmaceutical company, announced that it has closed its previously announced acquisition of Guilford Pharmaceuticals Inc., a biopharmaceutical company engaged in the research, development and selling of drugs that target the acute care market.

Under the terms of the acquisition, which was approved by Guilford's shareholders, all shares of Guilford were exchanged for 5.3 million shares of MGI Pharma stock plus $53.9 million in cash, which represents $3.75 per Guilford share, as determined based on MGI Pharma's 5-day average stock price ending on September 25, 2005 (three days prior to the transaction closing...

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Source: Cancer Weekly (2005-11-01)

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