11 October 2023

Bristol-Myers Squibb Company and Mirati Therapeutics announced on September 8th, 2023 that they have entered into a definitive merger agreement under which Bristol Myers Squibb has agreed to acquire Mirati for $58 per share in cash, for a total equity value of $4.8 billion.

Mirati shareholders will also receive one non-tradeable Contingent Value Right (CVR) for each Mirati share held, potentially worth $12 per share in cash, representing an additional $1 billion of value opportunity.

Bristol Myers Squibb to Acquire Mirati Therapeutics

BMY-MRTX Investor Presentation

Etalon Capital, Inc. provides independent research with a focus on event-driven value equities to institutional investors. Events include M&As, spin-offs, activist investors, IPOs, SPACs, buybacks, recapitalizations, asset sales, hedge fund holdings, and other significant corporate transactions. These are diversified by sources of risk as well as risk/return profiles. We generate an edge with a unique research process, combining value, focus on corporate events, and story investing principles.