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YM Biosciences Wins Final Court Order Approving Plan of Arrangement with Gilead

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YM BioSciences Inc. (NYSE: YMI,) is pleased to announce that the Supreme Court of Nova Scotia has issued a final order approving the previously announced plan of arrangement (the "Arrangement") involving the Company, Gilead Sciences, Inc. (NASDAQ: GILD) and 3268218 Nova Scotia Limited, a wholly-owned subsidiary of Gilead (the "Purchaser").   Under the Arrangement, the Purchaser will acquire all of the issued and outstanding common shares ("Common Shares") of the Company for cash consideration of US$2.95 per Common Share. In addition, holders of warrants and options will each receive a cash payment equal to the difference between US$2.95 and the exercise price of such warrants or options.

Assuming all other closing conditions are satisfied or waived, it is anticipated that the Arrangement will become effective on February 8, 2013 (the "Effective Date").  The Common Shares are expected to be delisted from the Toronto Stock Exchange and NYSE MKT LLC promptly following the Effective Date.  Following completion of the Arrangement, the Company will also apply to cease to be a reporting issuer under applicable Canadian securities laws. In addition, the Company will be eligible to terminate the registration of its Common Shares under the United States Securities Exchange Act of 1934, which would mean that the Company will no longer be required to file or furnish reports with the United States Securities and Exchange Commission.

Further details regarding the Arrangement are set out in the joint press release dated December 12, 2012 and the management proxy circular of the Company dated December 31, 2012, copies of which are available under the corporate profile of the Company on SEDAR at

Posted-In: News Legal


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