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Celgene completes tender offer for $9B Juno buy

Summit, N.J.-based Celgene Corp. said its tender off to acquire Juno Therapeutics Inc. expired at midnight on March 2.

Celgene expects to close the $9 billion acquisition in the coming days with Seattle-based Juno Therapeutics becoming a wholly owned subsidiary of the company.

A total of 90,730,558 shares were validly tendered in the offering, representing 78% of Juno's outstanding shares or approximately 88% of Juno's outstanding shares including shares already owned by Celgene.

Juno shares not tendered in the offer will automatically be converted into the right to receive $87 per share in cash.

The deal gives Celgene access to Juno's cancer therapies, including the JCAR017 CAR-T therapy, which is expected to receive U.S. regulatory approval in 2019 and earn $3 billion in global peak sales as a treatment for blood cancer.