Novartis announces expiration of Regulus Therapeutics tender offer

Novartis (NVS) announced that its previously announced tender offer by Redwood Merger Sub Inc., a Delaware corporation and an indirect wholly owned subsidiary of Novartis, to acquire all of the outstanding shares of common stock of Regulus Therapeutics (RGLS), in exchange for $7.00 in cash per share, subject to any applicable withholding and without interest thereon, plus one contingent value right per share, representing the right to receive one contingent payment of $7.00 in cash, subject to any applicable withholding and without interest thereon, upon the achievement of a regulatory milestone, expired at one minute past 11:59 p.m., New York City Time, on June 24. Computershare Trust Company, N.A., the depositary for the offer, has advised that, as of the Expiration Time, approximately 56,374,397 Shares were validly tendered and not validly withdrawn pursuant to the Offer, representing approximately 74.49% of the issued and outstanding Shares immediately prior to the expiration time. The parties expect the transaction to close on June 25, promptly following the acceptance of all shares validly tendered and not validly withdrawn pursuant to the offer.