Bristol Myers Squibb Strengthens Oncology Portfolio With Mirati Therapeutics' $5B Deal
Portfolio Pulse from Vandana Singh
Bristol Myers Squibb & Co (BMY) has agreed to acquire Mirati Therapeutics Inc (MRTX) for $58.00 per share in cash, totaling $4.8 billion. Mirati stockholders will also receive one non-tradeable Contingent Value Right (CVR) for each Mirati share held, potentially worth an additional $1.0 billion. The acquisition is expected to dilute Bristol Myers Squibb's adjusted EPS by approximately $0.35 per share in the first 12 months after the transaction closes. The deal is expected to close by the first half of 2024.
October 09, 2023 | 1:07 pm
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NEGATIVE IMPACT
Bristol Myers Squibb's acquisition of Mirati Therapeutics is expected to dilute its adjusted EPS by approximately $0.35 per share in the first 12 months after the transaction closes.
The acquisition is expected to dilute Bristol Myers Squibb's adjusted EPS, which could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mirati Therapeutics is being acquired by Bristol Myers Squibb for $58.00 per share in cash, with an additional potential value of $1.0 billion through CVR.
The acquisition price of $58.00 per share represents a premium to Mirati Therapeutics' current stock price, which could positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100