M&A
confidence high
sentiment neutral
materiality 0.85
Gilead completes $4.3B acquisition of CymaBay; seladelpar added to liver pipeline
GILEAD SCIENCES, INC.
- Total equity value ~$4.3 billion; Gilead paid $32.50 per CymaBay share.
- Tender offer resulted in 77.3% of shares tendered (93.7M shares); remaining shares converted at same price.
- CymaBay becomes wholly owned subsidiary; CBAY to be delisted from Nasdaq on March 22, 2024.
- Transaction expected to reduce Gilead's 2024 GAAP/non-GAAP EPS by $3.10-$3.20; including costs, $3.35-$3.45 relative to prior guidance.
- Seladelpar (for primary biliary cholangitis) is key asset; safety/efficacy not yet established.