May 18, 2015
AbbVie again extends deadline for Pharmacyclics stock
Pharmaceutical giant AbbVie, which has operations in Worcester, is extending by another week its offer for all outstanding shares of Pharmacyclics to Friday afternoon.
AbbVie, based in North Chicago, Ill., had already extended the deadline to May 15 to buy the California-based manufacturer of the blood cancer treatment Imbruvica (ibrutinib). In March, AbbVie agreed to pay $261.25 per share, from a combination of cash and equity, to acquire Pharmacyclics. The transaction values Pharmacyclics at about $21 billion, and was approved by both companies' boards of directors.
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