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Executive Order By President Bush Delays Expiration of Exelixis-Genomica Stock-Exchange Offer

SAN FRANCISCO, Dec. 18 - An executive order by President Bush to close most federal government executive branch departments and agencies on Dec. 24 pushed back by one day the expiration date for Exelixis' initial offering period for its exchange offer made for Genomica shares.

 

The new expiration date is Eastern Standard Time on Dec. 28, according to Exelixis, which last month announced plans to acquire Genomica.

 

The one-day delay is a result of stipulations within the Securities Exchange Act of 1934, the company said. The executive order also forces a two-day extension of the 18-day trading-day period used to calculate the final exchange ratio. The new ending date is Dec. 26.

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