AstraZeneca PLC announced that on June 18, 2007 it has completed its acquisition of MedImmune, Inc. pursuant to a short-form merger in which a subsidiary of AstraZeneca was merged with and into MedImmune with MedImmune continuing as the surviving corporation.
MedImmune is accordingly now 100 per cent owned by AstraZeneca. AstraZeneca had previously announced the acquisition of approximately 91.6 per cent of MedImmune's outstanding common stock pursuant to a cash tender offer.
In connection with the merger, all remaining outstanding shares of MedImmune's common stock (other than any shares in respect of which appraisal rights are validly exercised under Delaware law and any shares owned by MedImmune, AstraZeneca or any of their subsidiaries), were converted into the right to receive the same $58.00 cash per share, without interest, that was paid in the tender offer.