Why Gilead Sciences Is Buying CymaBay Therapeutics for $4.3 Billion

Key TakeawaysGilead Sciences is buying CymaBay Therapeutics, giving Gilead access to CymaBay's lead treatment for liver disease.Gilead will pay $4.3 billion or $32.50 per share in cash for CymaBay, a 26.5% premium over CymaBay's closing price Friday.CymaBay shares skyrocketed Monday to an all-time high after the news.Shares of CymaBay Therapeutics (CBAY) soared to an all-time high Monday after Gilead Sciences (GILD) announced it's buying the developer of medicine for liver and other chronic diseases for $4. ...