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November 21, 2011
Edited: November 21, 2011
Share ThisPharmasset to be acquired by GILD for $137 in cash (VRUS and GILD are halted, to resume at 7:30) (72.67 ) : Gilead Sciences and co announced that they have signed a definitive agreement under which Gilead will acquire Pharmasset for $137/share in cash. The transaction, which values Pharmasset at ~$11 bln, was unanimously approved by Pharmasset's Board of Directors. Gilead plans to finance the transaction with cash on hand, bank debt and senior unsecured notes. The co expects the transaction, when completed, to be dilutive to Gilead's earnings through 2014 and accretive in 2015 and beyond. Further guidance will be provided when the transaction closes, which is expected to be in the first quarter of 2012.The valuation of a company is the price one is willing to pay to buy. Rest is any one's guess
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