Allergan Completes Vitae Tender Offer

Allergan completed their tender offer to purchase all outstanding shares of Vitae Pharmaceuticals, Inc., a clinical-stage biotechnology company.
A tender offer occurs when an acquiring company offers to buy another company’s stock from shareholders at a specified price. The next step is a merger. Allergan offered to purchase all outstanding shares of Vitae for $21.00 per share, in cash, for a total transaction value of approximately $639 million.
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