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Bristol-Myers Squibb to Acquire Medarex
Bristol Myers-Squibb Company, 07/23/09

Bristol–Myers Squibb Company and Medarex, Inc. announced that the companies have signed a definitive merger agreement providing for the acquisition of Medarex by Bristol–Myers Squibb, for $16.00 per share in cash. The transaction, with an aggregate purchase price of approximately $2.4 billion, has been unanimously approved by the boards of directors of both companies. Medarex's projected $300 million in net cash and marketable securities at closing would be an asset acquired by Bristol–Myers Squibb resulting in an implied purchase price of approximately $2.1 billion.

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