Bristol-Myers Squibb Co. (BMY) announced the successful completion of the tender offer by the company through its wholly owned subsidiary, B&R Acquisition Co., for all of the outstanding shares of common stock of Amylin Pharmaceuticals, Inc. (AMLN) at a purchase price of $31.00 per share.
As of the expiration of the offer, 140.55 million shares of common stock of Amylin were validly tendered and not withdrawn in the tender offer. All of such shares have been accepted for payment in accordance with the terms of the tender offer, Bristol-Myers Squibb noted.
The tender offer expired at 5:00 p.m., New York City time, on August 7, 2012. As a result of the tender offer, Bristol-Myers Squibb now owns, together with its subsidiaries, around 85.55% of the outstanding shares of Amylin.
Bristol-Myers Squibb stated that as part of the successful completion of the tender offer, it has exercised its right, granted under the merger agreement with Amylin pursuant to which the tender offer was made, to purchase additional shares from Amylin which will allow Bristol-Myers Squibb to complete and close the merger and acquisition of Amylin today without stockholder approval. After completion of the merger, Amylin will become a wholly-owned subsidiary of Bristol-Myers Squibb.
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