NEW YORK (AP) – The drugmaker Forest Laboratories Inc. said it completed its tender offer for shares of Clinical Data Inc., part of its $1.2 billion acquisition of the company.
Forest said securities representing 82.8 percent of Forest Lab shares were tendered, including 27.9 million shares of stock along with warrants and convertible notes.
Forest agreed to buy Clinical Data in February for $30 per share. It will pay another $6 per share if Clinical Data’s antidepressant Viibryd, which was approved in January, reaches revenue targets.
Date: April 12, 2011
Source: Associated Pres