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BMS completes tender offer for Medarex

This article was originally published in Scrip

Executive Summary

Bristol-Myers Squibb says that it has completed its tender offer for Medarex. The company has tendered around 120 million shares, representing approximately 90.7% of Medarex's outstanding shares. The closing of the tender offer was delayed late last month following an initial struggle to tender shares (scripnews.com, August 21st, 2009). BMS adds that it expects the $2.4 billion deal to be completed imminently.

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