Gilead Sciences, which finished 2019 with nearly $26 billion at its disposal, is putting some of that money to work with a $4.9 billion deal to acquire cancer immunotherapy developer Forty Seven.
Under deal terms announced Monday, Foster City, CA-based Gilead (NASDAQ: GILD) will pay $95.50 for each share of Forty Seven (NASDAQ: FTSV). That’s a more than 64 percent premium to the company’s closing stock price last Friday. When Menlo Park, CA-based Forty Seven went public in 2018, it priced its shares at $16 each.
Forty Seven emerged in 2016 with Stanford University research about a signaling… Read more »
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