Medarex investor Gamco buys shares ahead of Bristol-Myers merger

By Lisa Kerner

Charlotte, N.C., Aug. 19 - A group of Medarex, Inc. investors led by Gamco Asset Management Inc. bought 7,735,768 shares between July 23 and Aug. 18 priced from $15.86 to $15.96 each, according to a schedule 13D filed on Wednesday with the Securities and Exchange Commission.

The purchase gives Gamco a 6.1% stake in the Princeton, N.J., biopharmaceutical company.

As previously reported, Bristol-Myers Squibb Co., a New York biopharmaceutical company, agreed to acquire Medarex for approximately $2.4 billion, including Medarex's projected $300 million in net cash and marketable securities.

Bristol-Myers' $16.00-per-share tender offer for Medarex ends at midnight ET on Monday. Puma Acquisition Corp., a Bristol-Myers subsidiary, began the offer on July 28.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.