Bristol-Myers
Squibb Company (NYSE: BMY) announced today the successful completion
of the tender offer by Bristol-Myers Squibb Company ("Bristol-Myers")
for all of the outstanding shares of common stock of Inhibitex, Inc.
(NASDAQ: INHX) ("Inhibitex") at a purchase price of $26.00 per share.
The tender offer expired at midnight, New York City time, on February
10, 2012. As of the expiration of the offer, 77,532,611 shares of common
stock of Inhibitex were validly tendered and not withdrawn in the tender
offer. All of such shares have been accepted for payment in accordance
with the terms of the tender offer.
As a result of the tender offer, Bristol-Myers now owns, together with
its affiliates, approximately 91% of the outstanding shares of
Inhibitex, which will allow Bristol-Myers to complete and close the
merger and acquisition of Inhibitex today without stockholder approval.
Upon completion of the merger, Inhibitex will become a wholly-owned
subsidiary of Bristol-Myers. All outstanding shares of common stock of
Inhibitex, other than shares held by Bristol-Myers or Inhibitex in
treasury or shares held by Inhibitex's stockholders who are entitled to
and properly exercise appraisal rights under Delaware law, will be
canceled and converted into the right to receive cash equal to the
$26.00 offer price per share without interest thereon and less any
applicable withholding taxes. In addition, upon completion of the
merger, the common stock of Inhibitex will cease to be traded on the
NASDAQ Stock Market.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information, please
visit www.bms.com
or follow us on Twitter at http://twitter.com/bmsnews.
