• Most Popular
  • Most Shared

Celgene to buy Pharmion for $2.9 billion

NEW YORK
Sun Nov 18, 2007 6:28pm EST

Stocks

   

NEW YORK (Reuters) - Biotechnology company Celgene Corp (CELG.O) has agreed to buy Pharmion Corp PHRM.O for about $2.9 billion in stock and cash to boost Celgene's push into the oncology field, the two companies said on Sunday.

Stocks  |  Mergers & Acquisitions

Under the terms of the deal, Celgene will acquire all the outstanding shares of Pharmion common stock for $72 per share, payable in a combination of cash and Celgene common stock. The deal is expected to close in the second quarter and be slightly dilutive to earnings in 2008 and accretive in 2009 and beyond.

(Reporting by Michael Flaherty; Editing by Braden Reddall)
Stocks
Mergers & Acquisitions


More from Reuters

Photo

RIM posts big gains in profit; shares surge

OTTAWA (Reuters) - BlackBerry maker Research In Motion reported a 58 percent jump in quarterly profit on Thursday, as sturdy demand from holiday shoppers helped fend off growing competition, sending its shares sharply higher.

» More Top News
President Barack Obama delivers remarks at Lehigh Carbon Community College in Allentown, Pennsylvania, December 4, 2009. REUTERS/Jim Young
Analysis:

Would you give him a B+ too?

"I told Michelle when we got here that in six months my poll numbers will start crashing," says President Obama. He's not worried -- yet.  Full Article 

Barack Obama
A U.S. Army soldier from Task Force Denali Platoon 1-40 CAV fire a 60mm mortar towards the mountain while Afghan army soldiers cover their ears during a patrol at Nadir-Chawcod district in Khowst province December 16, 2009. REUTERS/Zohra Bensemra
Bernd Debusmann:

Burning borrowed money

The Pentagon burns through $5 million in borrowed money every hour in Afghanistan and the amount is expected to more than double once additional troops are deployed.   Commentary 

Afghanistan