Bristol Myers Squibb to buy cancer drugmaker Mirati Therapeutics in up to $5.8B deal

Bristol Myers Squibb said Sunday it will acquire drugmaker Mirati Therapeutics in a deal worth up to $5.8 billion, adding to its oncology business portfolio. The company said it will pay $58 per share in cash. As part of the deal, Mirati stockholders will also receive one non-tradeable contingency value for each Mirati share held, potentially worth $12 per share in cash while representing an additional $1 billion of value opportunity, according to the announcement.

With multiple targeted oncology assets including Krazati, Mirati is another important step forward in our efforts to grow our diversified oncology portfolio and further strengthen Bristol Myers Squibb’s pipeline for the latter half of the decade and beyond," Bristol Myers Squibb CFO and CEO-elect Chris Boerner said in a statement.

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