NEW YORK (MarketWatch) -- Gilead Sciences
Inc. said Wednesday it'll pay $2.95 a share in cash to buy YM BioSciences Inc. in a deal valued at $510 million. The purchase price values YM BioSciences at a premium of $1.32, or 81% over its closing level of $1.63 a share on Tuesday. The deal is expected to close in the first quarter of the year. Shares of YM BioScience jumped 79% in premarket trades.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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