Chiron Corp. and Cetus Corp. on Wednesday set the exchangeratio for their proposed merger at three-tenths of a share ofChiron stock (NASDAQ:CHIR) for each share of Cetus stock(NASDAQ:CTUS).
The ratio was determined by Chiron's $66.75 median tradingprice for the 15 trading day period ended Nov. 26.
Stockholders of the two Emeryville, Calif., companies are tovote on the merger on Dec. 10. The companies expect tocomplete the merger within five business days following apositive vote.
Chiron closed at $60.75 and Cetus at $17.25, both unchanged.
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