Plus   Neg

Novartis Completes Tender Offer For Medicines Co.

Novartis AG (NVS) said that it completed its tender offer for all of the outstanding shares of common stock of Medicines Co. (MDCO) at a price of US$85.00 per share.

American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, said that, as of on January 3, 2020, the expiration of the tender offer, 60.67 million shares were validly tendered and not withdrawn in the tender offer, representing about 75.0% of the outstanding shares of the company's common stock, and Notices of Guaranteed Delivery had been delivered with respect to 13.66 million additional shares, representing about 16.9% of the outstanding shares of the cmpany's common stock.

In November 2019, Swiss drug major Novartis agreed to buy the Medicines Co. (MDCO) for $85.00 per share in cash, valuing the US-based biopharmaceutical company at about $9.7 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Casino operator MGM Resorts International said it was the victim of a data breach in 2019 after a report claimed that the details of more than 10.6 million hotel guests were exposed. Technology website ZDNet reported about the incident late on Wednesday, saying that the personal details of more than 10.6 guests who stayed at MGM Resorts hotels were published on a hacking forum this week. Amid the ongoing troubles with its 737 MAX commercial planes grounding since March 2019, Boeing (BA) has secured a five-year U.S. Air Force contract to sustain and modernize the Global Decision Support System, or GDSS. The financial terms of the deal were not disclosed. The contract was awarded to Tapestry Solutions, part of Boeing Global Services. Reinsurer Swiss Re reported Thursday significantly higher profit in fiscal 2019 driven by higher premiums mainly in property and casualty businesses, despite heavy natural catastrophe losses. The company also said it will propose higher dividend and share buyback of up to 1 billion Swiss Francs. Swiss Re were losing around 4 percent in trading.
Follow RTT