Bristol-Myers Squibb Company and Medarex, Inc.
Bristol-Myers Squibb to Acquire Medarex
Published in Cancer Weekly, August 4th, 2009
Bristol-Myers Squibb Company (NYSE:BMY) and Medarex, Inc. (NASDAQ: MEDX) announced that the companies have signed a definitive merger agreement providing for the acquisition of Medarex by Bristol-Myers Squibb, for $16.00 per share in cash. The transaction, with an aggregate purchase price of approximately $2.4 billion, has been unanimously approved by the boards of directors of both companies. Medarex's projected $300 million in net cash and marketable securities at closing would be an asset acquired by Bristol-Myers Squibb resulting in an implied purchase price of approximately $2.1 billion.
"Medarex's technology platform, people and pipeline provide a strong...
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Source: Cancer Weekly (2009-08-04)
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