Bristol-Myers Squibb's tender offer for Medarex shares ends Aug. 24

By Lisa Kerner

Charlotte, N.C., July 28 - Bristol-Myers Squibb Co. subsidiary Puma Acquisition Corp. began a $16-per-share cash tender offer for Medarex, Inc. stock, it was announced on Tuesday.

The offer will end at midnight ET on Aug. 24 unless extended, Bristol-Myers said.

As previously reported, Bristol-Myers agreed to acquire Medarex, a Princeton, N.J., biopharmaceutical company, for approximately $2.4 billion, including Medarex's projected $300 million in net cash and marketable securities.

Georgeson Inc. (800 491-3096) is the information agent for the tender offer.

Bristol-Myers is a New York biopharmaceutical company.

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