Medicines Company (MDCO) Commences Tender Offer for Targanta Therapeutics (TARG)

January 27, 2009 1:19 PM EST

Boxford Subsidiary Corporation, a wholly owned subsidiary of The Medicines Company (Nasdaq: MDCO), commenced a tender offer today to acquire all outstanding shares of common stock of Targanta Therapeutics Corporation (Nasdaq: TARG) for consideration of (1) $2.00 per share, net to the seller in cash, plus (2) the contractual right to receive up to an additional $4.55 per share in contingent cash payments if specified regulatory and commercial milestones are achieved within agreed upon time periods, pursuant to a previously announced Agreement and Plan of Merger among The Medicines Company, Boxford Subsidiary Corporation and Targanta Therapeutics Corporation, dated January 12, 2009.

The completion of the tender offer is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of Targanta common stock on a fully diluted basis.

The Medicines Company is focused on advancing the treatment of critical care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace.[SM]

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