CV Therapeutics, Astellas deal

Astellas revived an unsolicited bid it originally made in November to acquire CV Therapeutics for $16 per share, or about $1 billion in cash. CV's board rejected the initial offer. The price is a 41% premium to CV's close of $11.35 on Jan. 26, before the offer was publicly disclosed. On Jan. 28, CV said it would review the revived offer. The biotech also said its board extended the expiration date of its shareholder rights plan by one year to Feb. 1, 2010. ...