GILD is paying for CVTX entirely with cash on hand, which makes the acquisition accretive to cash EPS from day one. (GILD is guiding that the merger will be dilutive in 2009, roughly neutral in 2010, and accretive in 2011, but this guidance pertains to GAAP EPS rather than cash EPS.)
GILD comes closer to the unattainable standard of perfect execution than any biotech company I know of, so they get the benefit of the doubt from the investment community on deals such as this one, where other acquiring companies probably wouldn’t.
News 
Market Data 
Discover 
AI
