Gilead Sciences, CV Therapeutics merger closer to completion

By Lisa Kerner

Charlotte, N.C., March 31 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in Gilead Sciences, Inc.'s cash tender offer for CV Therapeutics, Inc.

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.

Gilead said the offer and withdrawal rights will expire at midnight ET on April 14.

The merger is expected to close during the second quarter, CV Therapeutics said.

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

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