Novartis: completes cash tender for The Medicines Company

(CercleFinance.com) - Swiss biopharma giant Novartis said on Monday it has successfully completed its 9.
7 billion dollar cash tender offer for all the outstanding shares of The Medicines Company.

Novartis, which in November agreed to acquire the US company for 85 dollars per share, to expand its presence on the cholesterol market, said that it has received about 75% of the company's outstanding shares.

Notices of delivery have also been received for approximately 16.9% of the shares, the drugmaker added.

Basel-based Novartis said it will promptly complete the acquisition, as The Medicines Company's shares will cease to be traded on the Nasdaq as from today.

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