Bristol-Myers Insider Arrest Followed Probe of Deal [1]

Bloomberg Business Week
By David Voreacos and Drew Armstrong on August 03, 2012

U.S. regulators were so suspicious of the circumstances surrounding Gilead Sciences Inc. (GILD [2])’s Nov. 21 announcement it was buying Pharmasset Inc. for $11 billion that they opened an insider-trading investigation that day.

“The volume was huge and the deal premium was huge, so we looked at the underlying trading,” U.S. Securities and Exchange Commission attorney Mary P. Hansen said in a phone interview.“We were looking at anyone who bought shares.”

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