Welcome to Industry Focus, the podcast that dives into a different sector of the stock market every day.

It's Wednesday, August 30th, and we're talking about Gilead Sciences acquisition of Kite Pharmaceuticals.

I'm your host Michael Douglas filling in

for Christine Hardw this week and I'm joined in the studio as always by Todd

Campbell. Todd good to see you today.

Reunited.

It feels so good.

I'm not a singer Michael, but it's great to have you back on the show.

It's going to be fun today talking about Kiteen Guild.

Yeah, absolutely.

Well, and I'll go ahead and give our listeners a little expectation that that will probably

not be the only song we sing on today's episode.

So we'll get to that in a minute.

But first off, let's go to the

headline. Gilead finally, finally, pulled the trigger and bought somebody. Kite

Pharmaceuticals. They announced this on Monday, $180 per share in cash. That's an $11.9 billion valuation.

29% premium to the prior close. If that sounds rich to you, keep in mind that's actually fairly typical in biotech you will often see

double-digit sometimes sometimes even more gains upon announcement of a deal close

just because you usually have to offer a pretty significant

premium to get a company to agree to be bought.

If you consider, if you were a kite shareholder or if you know a kite shareholder, be sure to pack them on the back.

Kite I peered three years ago at $17 per share and is now subject to the normal closing

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