Ariad Pharm announces it has approved a transaction to merge ARIAD Gene Therapeutics, an 80% subsidiary, into ARIAD (ARIA) 3.08 : Co announces that its Board of Directors has approved a transaction to merge ARIAD Gene Therapeutics, an 80%-owned subsidiary of ARIA, with and into ARIA. Under the terms of the merger agreement, each outstanding share of A.G.T.I. common stock owned by A.G.T.I.'s minority stockholders will be converted into the right to receive two shares of ARIA common stock. The exchange ratio was determined by the independent and disinterested members of ARIA's Board based on analyses received from an investment banking firm. A total of 2,252,128 shares of ARIA common stock will be issued, representing approx 3.1% of the outstanding common stock of ARIA following the transaction.
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