Gilead Sciences (GILD) has hit the news cycles with reports of a $21 billion deal to buy Immunomedics (IMMU). The massive deal involves $15 billion of cash on hand and $6 billion in new debt. The company already spent $3.1 billion net this year on its Forty Seven acquisition. We expect the market to react poorly to this deal; however, recommend investing after that.
Gilead Sciences - Office Snapshots
Gilead Sciences - Deal Financials
At the end of last year, it had $25.8 billion in cash, cash equivalents, and marketable debt securities. The company spent