Bristol-Myers Squibb (BMY) has announced the acquisition of RayzeBio (RYZB) for $62.50 per share, totaling $4.1 billion. The acquisition represents a 104.4% premium and is part of the ongoing biotech acquisitions ahead of the JPM conference. The acquisition is expected to reset the radiopharma market. The tender offer for RYZB closed at $30.57. Additionally, AstraZeneca (AZN) is set to acquire Gricel (GRCL) for $10.00 cash per ADS plus a CVR worth up to $1.50, totaling $1 billion. PNT/LLY tender is complete, and the TSX closed. The news comes amidst ongoing M&A and SPAC activities in the biotech sector.
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Today's M&A and SPAC news $RYZB to be acquired by $BMY for $62.50 cash per share, 104.4% premium, $3.6 billion $GRCL to be acquired by $AZN for $10.00 cash per ADS + CVR worth up to $1.50, 64.0% premium, $1 billion $PNT / $LLY tender complete TSX closed https://t.co/mO1xPCGCY3
$RYZB getting bought out by $BMY = Resetting Radiopharma market. Look at past acquisitions! https://t.co/xvCTKCifw3
Merger”Tuesday” ____BMY buying RYZB(RayzBio) for $62.50 cash via tender…closed $30.57
Biotech acquisitions continues pre JPM conference $XBI Bristol-Myers Squibb $BMY Announces Acquisition of RayzeBio $RYZB for $62.50 Per Share, $4.1 Billion