Question: on august 27 2015 celgene corporation acquired all of the...
On August 27, 2015, Celgene Corporation acquired all of the outstanding stock of Receptos Inc, in exchange for $7.6$ billion in cash. Referring to Celgene's 2015 financial statements and its July 14, 2015, press release announcing the acqusition , answer the following questions regarding the Receptions acquisition.
1.Why did Celgene acquire Receptos?
2. What accounting method was used, and for what amount, to record the acquisiton?