Mirati Shares Slip Premarket on Bristol Myers Takeover
09 Ottobre 2023 - 12:26PM
Dow Jones News
By Colin Kellaher
Shares of Mirati Therapeutics edged lower in premarket trading
Monday after the biotechnology company agreed to be acquired by
drugmaker Bristol Myers Squibb in a deal worth up to $5.8
billion.
Bristol Myers on Sunday said it would pay an initial $4.8
billion, or $58 a share, in cash, for Mirati, nearly 3.7% below
Friday's closing price of $60.20 for the San Diego company.
However, the purchase price is 35% above Thursday's closing
price of $42.89 for Mirati, before Bloomberg reported that France's
Sanofi was considering a takeover bid.
Mirati shareholders also will receive non-tradeable contingent
value rights potentially worth another $12 a share in cash tied to
Mirati's pipeline drug candidate for non-small cell lung cancer,
bringing the potential value of the transaction to $70 a share.
The deal, which Princeton, N.J.-based Bristol Myers plans to
finance with cash on hand and debt, is slated to close by the first
half of 2024.
Mirati shares were recently down 2% in premarket trading to
$59.02.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 09, 2023 06:11 ET (10:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Grafico Azioni Mirati Therapeutics (NASDAQ:MRTX)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Mirati Therapeutics (NASDAQ:MRTX)
Storico
Da Gen 2024 a Gen 2025
