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In Brief: Sandoz

Executive Summary

Sandoz: Proposes May 23 to acquire remaining shares of SyStemix for $17 per share, a 54.5% premium over SyStemix' closing price of $11. Sandoz already owns 73% of outstanding shares of Palo Alto-based SyStemix, which develops hematopoietic stem cell therapies for cancer, AIDS and genetic diseases. Sandoz purchased 60% of Systemix in December 1991 at prices ranging between $56 and $70 per share, double the market price...
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