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Biotechnology
Johnson & Johnson Begins Tender Offer to Acquire Cougar Biotechnology
June 20th, 2009
Johnson & Johnson (NYSE:JNJ), through a new wholly-owned subsidiary, Kite Merger Sub, Inc., today will commence a cash tender offer to purchase all outstanding shares of common stock of Cougar Biotechnology, Inc. (NASDAQ:CGRB). Johnson & Johnson reported on May 21, 2009, its intent to acquire Cougar Biotechnology. Upon the successful closing of the tender offer, shareholders of Cougar Biotechnology will receive $43.00 in cash for each share of Cougar Biotechnology common stock tendered in the offer, without interest and less any required withholding taxes. As a subsidiary of Johnson & Johnson, following the purchase of shares in the tender offer Cougar Biotechnology...
Source: Law & Health Weekly (2009-06-20)
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