AstraZeneca to acquire MedImmune for $15.2 billion
AstraZeneca PLC announced that it has entered into a definitive agreement to acquire MedImmune, Inc. in an all-cash transaction. Under the terms of the agreement, which has unanimous MedImmune Board support, AstraZeneca will acquire all of the fully diluted shares of MedImmune common stock at a price of $58 per share, for a total consideration of approximately $15.6 billion (including approximately $340m net cash).
The acquisition of MedImmune shall significantly accelerate AstraZeneca's biologics strategy. The combination of MedImmune with AstraZeneca's wholly-owned subsidiary Cambridge Antibody Technology ("CAT") shall create a world-class, fully integrated biologics and vaccines business within the AstraZeneca Group with critical mass in research, development, regulatory, manufacturing and global sales and marketing reach.
The deal is expected to close in June 2007.
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