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DewDiligence

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Re: jbog post# 227051

Sunday, 11/24/2019 3:39:10 PM

Sunday, November 24, 2019 3:39:10 PM

Post# of 257300
NVS acquires MDCO for $85/sh cash—a 64% premium to MDCO’s closing price on 11/15/19, the day before serious buyout rumors began circulating:

https://www.globenewswire.com/news-release/2019/11/24/1951667/0/en/Novartis-to-acquire-The-Medicines-Company-for-USD-9-7-bn-adding-inclisiran-a-potentially-transformational-investigational-cholesterol-lowering-therapy-to-address-leading-global-cau.html

https://www.novartis.com/sites/www.novartis.com/files/novartis-mdco-acquisition.pdf (CC slides)

The nominal deal value is $9.7B (on a fully-diluted basis). There is no CVR.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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