Bristol-Myers Squibb to Acquire Inhibitex Bristol-Myers Squibb Business and Inhibitex amoxil.net.

Bristol-Myers Squibb to Acquire Inhibitex Bristol-Myers Squibb Business and Inhibitex, Inc amoxil.net http://amoxil.net . have signed a definitive agreement under which Bristol-Myers Squibb will acquire Inhibitex for $26.00 per share in cash pursuant to a cash tender offer and second step merger. The purchase, with an aggregate purchase price of approximately $2.5 billion, has been accepted by the boards of directors of both companies. The panel of directors of Inhibitex offers agreed to recommend that Inhibitex’s shareholders tender their shares in the tender present. In addition, shareholders with beneficial ownership of approximately 17 percent of Inhibitex’s common stock possess entered into agreements with Bristol-Myers Squibb to support the transaction and to tender their shares in the tender present.

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Related StoriesNew initiative released to accelerate search for effective HIV vaccineStudy evaluates performance of antiretroviral treatment in HIV-infected childrenNew study discovers high prevalence of HIV among pregnant refugee ladies in OntarioTerms of the contract include an upfront payment from Bristol-Myers Squibb of $7.5 million to Medivir. Medivir also may receive pre-specified advancement and regulatory milestones totaling around $97 million from the collaboration, and also up to double-digit royalties on sales of the product commercialized under the collaboration.

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