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UPDATE 2-Bristol-Myers Squibb to acquire Mirati in $4.8 billion deal
Dow Jones Industrial Average -0.51%
S&P 500 index -1.07%
NASDAQ -1.69%
Mirati Therapeutics Inc. 0.00% Pre
Bristol-Myers Squibb Company +2.36% Pre
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S&P 500 index SPX | 6827.41 | -1.07% |
NASDAQ IXIC | 23195.17 | -1.69% |
Mirati Therapeutics Inc. MRTX | 58.70 58.70 | 0.00% 0.00% Pre |
Bristol-Myers Squibb Company BMY | 52.41 52.80 | +2.36% +0.74% Pre |
Adds details from statement in paragraphs 4,5, background in paragraph 6
Oct 8 (Reuters) - Bristol-Myers Squibb BMY.N on Sunday said it will acquire cancer drugmaker Mirati Therapeutics MRTX.O for $58 per share in cash, representing $4.8 billion equity value.
Bristol-Myers Squibb will finance the transaction with a combination of cash and debt.
The transaction is expected to be dilutive to Bristol-Myers Squibb's non-GAAP earnings per share by approximately 35 cents per share in the first 12 months after the transaction closes.
Mirati stockholders will receive one non-tradeable Contingent Value Right for each Mirati share held, potentially worth $12.00 per share in cash.
The U.S. health regulator had in December approved Mirati's lung cancer drug, Krazati, to treat adults with advanced lung cancer.
(Reporting by Dimpal Gulwani; Additional reporting by Lavanya Ahire; Editing by Lisa Shumaker and Diane Craft)
((Dimpal.Gulwani@thomsonreuters.com;))
