Gilead Sciences completes $20-per-share buyout of CV Therapeutics

By Lisa Kerner

Charlotte, N.C., April 17 - CV Therapeutics, Inc. was acquired by a subsidiary of Gilead Sciences, Inc., it was announced on Friday.

According to Gilead, each outstanding share of CV Therapeutics not owned by Gilead, its subsidiaries or CV Therapeutics has been automatically converted into the right to receive $20 in cash, without interest.

Gilead's tender offer for CV Therapeutics ended on Tuesday.

As previously reported, CV Therapeutics agreed to be acquired by the Foster City, Calif.-based biopharmaceutical company for $20 per share in cash in a transaction valued at $1.4 billion.

CV Therapeutics is a Palo Alto, Calif., biopharmaceutical company.

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