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Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: CV Therapeutics

CV Therapeutics – Going Once, Going Twice…

Sold to the Knight in White for $1.4 billion? With Astellas announcing this morning that they will not be outbidding Gilead for CV Therapeutics, the share price dropped back down slightly below Gilead’s $20 per share offer price, indicating that investors don’t see another bidder materializing.

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M&A! Hooray! Genentech’s and CV Therapeutics’ Dreams Come True

Seems like $95 per share was the magic number for Genentech, which finally succumbed to Roche’s persistent advances;

and in other new news…

CV Therapeutics‘ (Nasdaq: CVTX) found a White Knight in Gilead Sciences, which will pay $1.4 billion ($20/share), topping Astellas’ $16/share offer, which CV Therapeutics rejected a few weeks ago.  Pre-market trading is over $20, though, so maybe Astellas isn’t done trying.

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M&A Update 2

Here’s the latest collection of M&A news we’ve found since the last update.  No new mega-deals, although Sanofi is shopping in the €15 billion range and Roche sold $16 billion of debt (which has seen high demand in subsequent trading) in the largest offering ever to raise cash for its Genentech bid.  Also, CV Therapeutics‘ (Nasdaq: CVTX) Board rejected Astellas’ $16 per share bid on the same day CV Therapeutics released its year-end results.

more deal info after the jump…

It’s Raining M&A

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