Article By:
Business Wire
Sunday, September 13, 2020 3:51 PM EDT
Gilead Sciences, Inc. and Immunomedics announced that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Immunomedics for $88.00 per share. The transaction values Immunomedics at approximately $21 billion.
Gilead Sciences Takes First Step Towards Higher Valuation Multiple
I tend to look down on companies that depend on buying up others to fuel their research and growth, especially at high valuations when their own stock has a low valuation. I'd be somewhat neutral on this buyout. The real winner is $KITE and their competitors, not #Gilead.
Biotech Buzz Is Broken
$KITE opened pretty good, $JUNO needs a bounce