A windfall for Viagene shareholders

Viagene Inc. shareholders gained about $31 million when the gene therapy companys merger into Chiron Corp. closed at about a 35 percent premium to the value of the deal when it was announced in April.

CHIR last week announced that it completed the acquisition of VIGN by issuing 915,000 common shares and paying $36 million in cash to acquire the 80 percent of the San Diego company that it did not already own. The final purchase price therefore is about $118.8 million, based on CHIRs closing price of $90.50 on Sept. 29, the day before the closing of the transaction was announced...