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Novartis Commences Tender Offer For Medicines Company

Novartis AG (NVS) said Thursday it has commenced a cash tender offer to buy all of the outstanding shares of common stock of The Medicines Co. (MDCO) for a price of $85.00 per share. The Offer will expire on January 3, 2020, unless extended.

Last month, Swiss drug major Novartis agreed to buy the Medicines Co. for $85.00 per share in cash, valuing the US-based biopharmaceutical company at about $9.7 billion. The offer price represented a premium of about 24% premium over the Medicines Company's closing share price of $68.55 on November 22, 2019.

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