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Cubist Pharmaceuticals, Inc. (CBST) Completes Acquisition of Adolor Corporation (ADLR)



12/12/2011 7:42:11 AM

LEXINGTON, Mass.--(BUSINESS WIRE)--Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) today announced that it has completed the previously announced acquisition of Adolor Corporation for an aggregate upfront cash consideration of approximately $221 million. All outstanding shares of Adolor were acquired for $4.25 per share in upfront cash plus one Contingent Payment Right (CPR) per share, entitling the holder to receive additional cash payments of up to $4.50 for each share owned if certain regulatory approvals and/or commercialization milestones for ADL5945 are achieved. Effective today, Adolor common stock will cease to be traded on the NASDAQ.

Read at BioSpace.com


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