BRIEF-Vertex To Acquire Crinetics Pharmaceuticals In $10 Billion Deal

CRINETICS PHARMACEUTICALS, INC.
Vertex Pharmaceuticals Incorporated

CRINETICS PHARMACEUTICALS, INC.

CRNX

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Vertex Pharmaceuticals Incorporated

VRTX

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July 6 (Reuters) -

  • VERTEX TO ACQUIRE CRINETICS PHARMACEUTICALS

  • VERTEX TO BUY CRINETICS FOR $85 PER SHARE IN $10 BILLION DEAL

  • VERTEX WILL ACQUIRE CRINETICS FOR $85.00 PER SHARE IN CASH

  • VERTEX TO FINANCE DEAL USING CASH ON HAND & DEBT

  • DEAL EXPECTED TO BE ACCRETIVE VERTEX'S TO NON-GAAP OPERATING INCOME IN 2029

  • FINANCING SUPPORTED BY $4.5 BILLION OF FULLY COMMITTED BRIDGE FINANCING FROM BANK OF AMERICA, MORGAN STANLEY SENIOR FUNDING

Source text: ID:nBw1b3TBba

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