MedImmune Message Board - Msg: 23590486

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Biotech / Medical : MedImmune

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From: sim1	6/1/2007 10:19:34 AM
	of 416

AstraZeneca Bid for Biotech Firm On Friday June 1, 9:32 am ET AstraZeneca Says MedImmune Tender Offer a "Success" GAITHERSBURG, Md. (AP) -- British pharmaceutical company AstraZeneca PLC said Friday that its tender offer for shares of biotech company MedImmune Inc. was a "success," allowing it to go forward with a planned takeover of the drug maker. AstraZeneca said 96 percent of MedImmune's shares were tendered during the offer that expired at the end of Thursday. AstraZeneca is offering MedImmune shareholders $58 per share, which represented a 53 percent premium over MedImmune's share price before the company announced in April that it was looking for a buyer. MedImmune and AstraZeneca plan to close the deal June 18, at which point MedImmune will become a wholly owned AstraZeneca subsidiary. AstraZeneca also said Friday that a new tender offer for the remaining 4 percent of MedImmune shares will run through June 5. Shares of MedImmune traded up 6 cents to $57.95 at the market open Friday.

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