Gilead Sciences (GILD) has released an update.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Gilead Sciences, Inc. has announced an agreement to acquire CymaBay Therapeutics, Inc. through a merger, offering to buy all outstanding shares at $32.50 each. The tender offer will be available for at least 20 business days, with conditions including the majority acquisition of CymaBay’s shares and regulatory approvals. Upon successful completion of the tender offer, Gilead plans to merge with CymaBay, with the latter being the surviving entity. This strategic move aims to bolster Gilead’s portfolio, promising a significant cash payout to CymaBay’s shareholders and imposing certain limitations on seeking alternative acquisition proposals.
For further insights into GILD stock, check out TipRanks’ Stock Analysis page.