Immunex Corp. of Seattle announced that stockholders ofrecord as of June 1 (the day that Immunex's merger withAmerican Cyanamid's subsidiary Lederle Oncology Corp.became official) will receive one share of new Immunexcommon stock and $21 in cash for each share of old Immunexcommon stock held.
The full merger consideration of stock and cash will be paid tothe stockholders in the next several weeks.
New Immunex common stock will trade temporarily under thesymbol IMNXD, indicating a reorganization and new stock issue.In approximately one month, new Immunex common stock willtrade under its previous NASDAQ symbol, IMNX. Immunexwarrants will trade temporarily under the symbol IMNWD andthen under the symbol IMNXW.
Old Immunex stock, IMNX, closed June 1 at $47.38 a share. NewImmunex stock, IMNXD, opened Wednesday at $27 a share andclosed that day at $27.25 on a volume of about 420,000 shares.
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