3 Reasons to Applaud Gilead Sciences' Acquisition of Kite Pharma
Finally.
Gilead Sciences (NASDAQ: GILD) announced on Monday that it was acquiring Kite Pharma (NASDAQ: KITE) for $11.9 billion. Investors had long waited for the big biotech to make a deal. One analyst even wrote a letter to the company earlier this year urging it to move forward quickly with an acquisition.
Kite's shareholders have a lot to like about the deal, since the price tag represents a premium of nearly 30% to the small biotech's previous close. But what about Gilead's shareholders? Here are three reasons for investors to cheer Gilead's acquisition of Kite.
Source: Fool.com
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