Gilead Sciences, Inc. (GILD) announced that it will acquire clinical-stage biopharmaceutical company, CymaBay Therapeutics, Inc. (CBAY) , for $32.50 per share in cash or a total equity value of $4.3 billion.Shares of CBAY surged 25.8% on the acquisition news as the offer price represents 27% of the company’s closing share price as of Feb 9, 2024.Financial Terms of the AcquisitionA wholly-owned subsidiary of Gilead will commence a tender offer to acquire all the outstanding shares of CymaBay’s common stock a ...