|
NEW YORK (AP) - Chiron Corp. on Monday said its board rejected an all-cash takeover offer from Novartis AG, saying the offer is inadequate.
A Novartis spokesman in Basel, John Gilardi, told the Associated Press that Novartis is aware of the statement from Chiron's board, but the pharmaceutical company had no immediate response.
On Sept. 1, Novartis offered to buy about 58 percent of Chiron shares it does not already own at $40 per share.
|