Chiron Announces Merger Agreement with Novartis; Novartis to Acquire Outstanding 58 Percent of Chiron Shares for $45.00 Per Share in Cash; Agreement Recognizes the Value of Chiron's Assets and People.

Publication: Business Wire

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2005 Business Wire

EMERYVILLE, Calif. -- Chiron Corporation (NASDAQ:CHIR) today announced that it has entered into a definitive merger agreement with Novartis under which Novartis will acquire all of the shares of Chiron that it does not currently own. Novartis will acquire approximately 113 million Chiron shares, or 58 percent of all Chiron shares, for $45.00 per Chiron share, or a total of approximately $5.1 billion, in cash.

"Chiron has recently made tremendous strides, including returning to the U.S. influenza vaccine market, building a compelling oncology pipeline and extending our growth in the Blood Testing business. We can all be rightfully...

Read the full article for free courtesy of your local library.