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According to MLV, Inhibitex
INHX price target is raised to $26.
MLV said that prior to start of the first major healthcare conference in San Francisco, Inhibitex announced that it signed a definitive agreement with Bristol-Myers Squibb Company (BMY, Not Covered) to be acquired for $26.00/share in cash, or an aggregate purchase price of ~$2.5Bil. “Not only has the deal has been approved by both companies, but approximately 17% of INHX shareholders have also entered into agreements to tender their shares. “
Inhibitex closed on Friday at $9.87.
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