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BioSante Pharmaceuticals and Cell Genesys Sign Definitive Merger Agreement.

Publication: Mergers & Acquisitions Business
Publication Date: 16-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) and Cell Genesys (NASDAQ:CEGE), announced that they have entered into a definitive merger agreement by which the companies will merge in an all-stock transaction, with BioSante as the surviving company.

Under the terms of the merger agreement, Cell Genesys stockholders will receive 0.1615 of a share of BioSante common stock for each share of Cell Genesys common stock they own. Based on the companies' closing stock prices on June 29, 2009, this represents $0.347 per share of consideration to be received by the Cell Genesys stockholders, or a total consideration of approximately $38 million, and a premium of 12 percent to the closing sale price of Cell Genesys' common stock on that date. Upon completion...

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