YM BioSciences (YM.TO) Reports Operational and Financial Results for the Second Quarter of Fiscal 2013
2/7/2013 8:06:30 AM
MISSISSAUGA, ON, Feb. 7, 2013 /PRNewswire/ - YM BioSciences Inc. (NYSE MKT: YMI) (TSX: YM), today reported operational and financial results for the second quarter of fiscal 2013, ended December 31, 2012.
During the quarter, YM announced a plan of arrangement (the "Arrangement") involving the Company, Gilead Sciences, Inc. ("Gilead") and 3268218 Nova Scotia Limited, a wholly-owned subsidiary of Gilead (the "Purchaser"). Under the Arrangement, the Purchaser will acquire all of the issued and outstanding common shares ("Common Shares") of the Company for cash consideration of U.S.$2.95 per Common Share. In addition, holders of warrants and options will each receive a cash payment equal to the difference between U.S.$2.95 and the exercise price of such warrants or options. The Supreme Court of Nova Scotia has issued a final order approving the Arrangement and assuming all other conditions precedent are satisfied or waived, it is anticipated that the Arrangement will become effective on February 8, 2013.