Gilead Sciences Announces Expiration Of Waiting Period For CymaBay Tender Offer
Portfolio Pulse from Benzinga Newsdesk
Gilead Sciences, Inc. (NASDAQ:GILD) announced the expiration of the HSR waiting period for its cash tender offer for CymaBay Therapeutics, Inc., moving closer to acquisition completion. The waiting period expired on March 8, 2024, after both companies filed the required Premerger Notification on February 22, 2024. This step is one of several conditions to finalize the tender offer, with others including a minimum tender of CymaBay's shares. The offer is set to expire on March 21, 2024, unless extended.
March 11, 2024 | 12:26 pm
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Gilead Sciences progresses in its acquisition of CymaBay Therapeutics with the expiration of the HSR waiting period, a key step towards completing the tender offer.
The expiration of the HSR waiting period is a significant regulatory step in mergers and acquisitions, indicating progress towards deal completion. This development is likely to be viewed positively by investors, potentially boosting GILD's stock in the short term as it demonstrates progress in strategic growth efforts.
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