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Gilead Sciences, Inc. (GILD) Completes Tender Offer for All Outstanding Shares of Pharmasset, Inc. (VRUS)



1/12/2012 6:28:32 AM

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq:GILD) today announced the successful completion of the tender offer by its wholly-owned subsidiary, Royal Merger Sub II Inc. (“Merger Sub II”), for all of the outstanding shares of common stock of Pharmasset, Inc. (Nasdaq:VRUS) at a price of $137 per share, net to the seller in cash (less any required withholding taxes and without interest). BNY Mellon Shareowner Services, the depositary for the tender offer, has advised Gilead that, as of 12:00 midnight, New York City time, on January 12, 2012, the initial expiration of the tender offer, approximately 72,041,926 shares were validly tendered and not withdrawn in the tender offer, representing approximately 95% of Pharmasset’s currently outstanding shares (including 5,529,352 shares delivered through Notices of Guaranteed Delivery, representing approximately 7% of the shares outstanding). Gilead has accepted for payment all shares validly tendered and not withdrawn and will promptly pay for such shares.

Read at BioSpace.com


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