Gilead Sciences will Acquire Nexstar Pharmaceuticals

Gilead Sciences Inc. and NeXstar Pharmaceuticals Inc. recently announced a definitive agreement whereby Gilead will acquire NeXstar in an all-stock, tax-free pooling-of-interests transaction.

Under the terms of the agreement, NXTR stockholders will receive 0.425 of a share of GILD for each share of NXTR, subject to adjustment based on the trading range of GILD stock prior to completion of the merger. The fixed exchange ratio of 0.425 is applicable for a range of GILD stock prices from $36.47 to $45.88 per share, based on the average closing price over the period of 20 trading days ending on the third trading day prior to the NXTR stockholder meeting.