Novartis Completes Tender Offer For Medicines Co.

(RTTNews) - 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that, as of on January 3, 2020, the expiration of the tender offer, 60.67 million shares were validly tendered and not withdrawn in the tender offer, representing about 75.0% of the outstanding shares of the company's common stock, and Notices of Guaranteed Delivery had been delivered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.