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Gilead Says HSR Waiting Period For Immunomedics Tender Offer Expires - Quick Facts

Biopharmaceutical company Gilead Sciences, Inc. (GILD) announced Wednesday that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) with respect to Gilead's cash tender offer for Immunomedics, Inc. expired at 11:59 p.m. on October 13, 2020.

On September 25, Gilead and Immunomedics filed the Premerger Notification and Report Forms required under the HSR Act with the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice.

The expiration of the HSR waiting period satisfies one of the conditions to consummate the tender offer.

Other conditions remain to be satisfied, including, among others, a minimum tender of shares of common stock of Immunomedics representing a majority of the total number of outstanding shares of common stock of Immunomedics.

Unless the tender offer is extended, the offer and withdrawal rights will expire at one minute after 11:59 p.m., Eastern Time, on October 22, 2020.

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