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news.Bristol-Myers Squibb Company has completed its acquisition of Inhibitex, a drug development company, at a purchase price of $26 per share.
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As of the expiration of the offer, 77,532,611 shares of common stock of Inhibitex were validly tendered and not withdrawn in the tender offer, the company said.
Approximately 4,260,705 remaining shares were then acquired by Bristol under a procedure in which they were converted into the right for their holders to receive $26 per share, minus any withholding taxes.
Bristol-Myers intends to delist and de-register Inhibitex common stock as promptly as practicable following the effective time of the merger.