Market Overview

Bristol-Myers Squibb Completes Acquisition of Inhibitex, Inc.

NEW YORK--(BUSINESS WIRE)--

Bristol-Myers Squibb Company (NYSE: BMY) announced today the successful completion of the tender offer by Bristol-Myers Squibb Company (“Bristol-Myers”) for all of the outstanding shares of common stock of Inhibitex, Inc. (NASDAQ: INHX) (“Inhibitex) at a purchase price of $26.00 per share. As of the expiration of the offer, 77,532,611 shares of common stock of Inhibitex were validly tendered and not withdrawn in the tender offer. As of the close of business on February 10, 2012, approximately 4,260,705 shares remained subject to guaranteed delivery procedures.

Today, Bristol-Myers Squibb acquired all of the remaining outstanding shares of Inhibitex common stock by means of a “short form merger” in which all such shares were converted into the right to receive $26.00 per share, in cash and without interest, less any applicable withholding taxes. Bristol-Myers Squibb intends to delist and de-register Inhibitex common stock as promptly as practicable following the effective time of the merger.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information, please visit www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.

Bristol-Myers Squibb
Media:

609-252-6579
jennifer.mauer@bms.com
or
Investors:
Teri Loxam, 609-252-3368
teri.loxam@bms.com

 

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional