The Medicines Co (MDCO) Acquires Targanta Therapeutics (TARG) For $2/Share
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The Medicines Company (Nasdaq: MDCO) entered into a merger agreement with Targanta Therapeutics Corporation (Nasdaq: TARG).
Under the terms of the merger agreement, Targanta shareholders will receive $2.00 in cash up front for each common share tendered, or approximately $42 million. Targanta shareholders may also be entitled to receive additional contingent cash payments upon the achievement of specified regulatory and commercial milestones within agreed upon time periods.
Shares of Targanta Therapeutics closed at $1.16 yesterday.
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