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Gilead Sciences Inc to Acquire YM BioSciences Inc


Wednesday, 12 Dec 2012 08:30am EST 

Gilead Sciences Inc and YM BioSciences Inc announced that the companies have signed a definitive agreement under which Gilead will acquire YM for USD2.95 per share in cash. The transaction has received the unanimous approval of YM`s Board of Directors, and values YM at approximately USD10 million, with YM reporting CAD125.5 million in cash and cash equivalents as of September 30, 2012. Gilead plans to fund the acquisition with cash on hand. The transaction is expected to close in the first quarter of 2013.