Gilead Sciences Completes Acquisition of Myogen.FOSTER CITY, Calif. -- Gilead Sciences Gilead Sciences NASDAQ: GILD is a biopharmaceutical company that discovers, develops and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases. , Inc. (Nasdaq:GILD) announced today that it has completed its acquisition of Myogen, Inc. (Nasdaq:MYOG MYOG Myogenic Factor ). On November 17, 2006, Gilead caused one of its wholly-owned subsidiaries to be merged into Myogen. The merger followed the successful completion by Gilead of a cash tender offer for all outstanding shares of Myogen common stock at $52.50 per share, which was completed at one minute following 11:59 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time (midnight), on November 13, 2006. As a result of the merger, each outstanding share of common stock of Myogen, other than those held by Gilead or Myogen or their respective subsidiaries, or holders who properly exercise appraisal rights Appraisal rights A right of shareholders in a merger to demand the payment of a fair price for their shares, as determined independently. , has been converted into the right to receive $52.50 in cash, without interest (the same price paid in the tender offer). Myogen stockholders whose shares were not validly tendered and accepted for payment in the tender offer will receive a Notice of Merger and a Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. that will instruct them as to how to receive the merger consideration. In order to accomplish the merger as a "short form" merger, Gilead exercised its "top-up" option pursuant to the merger agreement, which permitted a subsidiary of Gilead to purchase a limited number of additional shares of common stock of Myogen directly from Myogen for $52.50 per share (the same purchase price paid in the offer). As previously announced, Gilead will provide guidance on the impact of the Myogen acquisition on its 2007 operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. during the fourth quarter and year end 2006 earnings conference call on January 31, 2007. About Gilead Sciences Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California
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