INDIANAPOLIS (dpa-AFX) - Eli Lilly and Company (LLY) on Tuesday said its tender offer to acquire Adverum Biotechnologies expired on December 8, 2025, with 16.49 million shares about 64 percent of outstanding shares validly tendered.
With all conditions met, Lilly will promptly pay $3.56 per share in cash plus a contingent value right worth up to $8.91 upon milestone achievements.
The companies expect to complete the merger on December 9 under their existing agreement.
LLY is currently trading at $1,002.72 down $5.15 or 0.52 percent on the New York Stock Exchange.
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