RTTNews | Oct 23, 2020 09:28AM EDT

09:28 Friday, October 23, 2020 (RTTNews.com) - Gilead Sciences, Inc. (GILD) announced the completion of the transaction to acquire Immunomedics, Inc. (IMMU) for approximately $21 billion. On October 23, Gilead successfully completed the tender offer for all outstanding shares of common stock of Immunomedics and accepted for payment all shares validly tendered and not withdrawn. Gilead said it will promptly pay for such shares, which shares represented approximately 81.38% of Immunomedics' outstanding shares.

Immunomedics has become a wholly owned subsidiary of Gilead and the common stock of Immunomedics will no longer be listed for trading on the Nasdaq Global Market, which is anticipated to take effect as of the close of market on October 23, 2020.

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