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Gilead Completes Tender Offer For CV Therapeutics

Company said Wednesday it completed its tender offer for CV Therapeutics Inc. and plans on closing the $1.4 billion buyout within a few days.

FOSTER CITY, Calif. (AP) -- Gilead Sciences Inc. said Wednesday it completed its tender offer for CV Therapeutics Inc. and plans on closing the buyout within a few days.

In March, Gilead agreed to buy CV Therapeutics in March for about $1.4 billion, or $20 per share. It now owns about 59.4 million CV Therapeutics shares, or 88 percent of its outstanding stock.

Gilead, which is best know for its HIV treatments, will gain the angina treatment Ranexa through the buyout.

Shares of Gilead fell $1.40, or 3 percent, to $45.25 in morning trading. The stock has traded between $35.60 and $57.63 over the last 52 weeks.

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