March 2, 2020 / 1:56 PM / a month ago

Gilead to buy drug developer Forty Seven for about $4.9 bln

March 2 (Reuters) - Gilead Sciences Inc said on Monday it would buy cancer drug developer Forty Seven Inc for $4.9 billion in cash.

Gilead will pay $95.50 for each share of Forty Seven, representing a premium of 64.7% to the stock's Friday closing price. (Reporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty)

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