Rochester,NY 9/2/2009 8:08:27 PM
Bristol Myers Squibb Co.BMY-Merger Completeion through Tender Offer For Medarex, Inc.
Bristol Myers Squibb Co
Bristol-Myers Squibb Co. recently declared that the depositary for its tender offer for all the outstanding common stock of Medarex, Inc. has advised that, as of the expiration of the subsequent offering period, shareholders of Medarex, tendered approximately 120,417,467 shares, representing, together with the 2,879,223 shares of Medarex common stock owned by Bristol-Myers Squibb since January 2005, approximately 90.7% of the Medarex shares outstanding.
According to the terms of the tender offer, all shares that were validly tendered have been accepted for payment. The subsequent offering period expired at midnight (New York City time) on August 31, 2009, and was not extended. Bristol-Myers Squibb intends to complete the acquisition of Medarex through what is known as a "short-form merger," that is, without a vote or meeting of Medarex`s remaining shareholders.
Bristol-Myers Squibb Company (BMS) focuses in the discovery, development, licensing, manufacture, marketing, distribution, and sale of pharmaceuticals and nutritional products worldwide. It operates in two segments, Pharmaceuticals and Nutritionals.
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