Gilead to buy Immunomedics in $21B deal

Gilead will buy Immunomedics for $88 per share in cash, according to the statement

(Reuters) - Gilead Sciences Inc GILD.O will acquire biopharmaceutical company Immunomedics Inc IMMU.O for $21 billion in a deal that would further expand Gilead's portfolio of cancer treatments, the companies said on Sunday in a statement.

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Gilead will buy Immunomedics for $88 per share in cash, according to the statement.

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The transaction is expected to close in Q4 of 2020, the companies said.

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