Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : CLTR COULTER PHARMACEUTICAL -- Ignore unavailable to you. Want to Upgrade?

To: Howard Bennett who wrote (618)	10/16/2000 8:40:40 AM
From: Howard Bennett	Read Replies (1) \| Respond to of 666

Corixa to buy Coulter for over $900 mln in stock NEW YORK, Oct 16 (Reuters) - Biotechnology company Corixa Corp. (NasdaqNM:CRXA - news) said Monday it agreed to buy Coulter Pharmaceutical Inc. (NasdaqNM:CLTR - news), a maker of prospective cancer treatment Bexxar, for more than $900 million in stock. The purchase price is based on a fixed exchange ratio of 1.003 shares of Corixa common stock for each share of South San Francisco-based Coulter common stock outstanding at the time of closing. Corixa shares closed at $44-3/16 on Friday, while Coulter closed at $30-15/16. Corixa's antigen discovery and immunotherapeutic product development expertise is expected to combine with Coulter's therapeutic antibodies and targeted oncologics platforms to develop therapies for the treatment or prevention of autoimmune diseases, cancer and infectious diseases, the companies said. Steven Gillis would remain as chairman and chief executive officer of the combined company, which wouldcontinue to operate as Corixa. Michael Bigham, current president and chief executive officer of Coulter, would join Corixa's board of directors as vice chairman