Overview

• Bristol Myers Squibb Co. has announced its acquisition of RayzeBio Inc. for $4.1 billion, marking its second multibillion-dollar deal in less than a week.
• The deal offers RayzeBio shareholders a 104% premium to their stock's closing price on Friday.
• RayzeBio is a clinical-stage radiopharmaceutical therapeutics company focused on developing ways to use radioactive particles to kill cancer cells.
• The acquisition will expand Bristol Myers Squibb's cancer treatment portfolio and establish its presence in one of the most promising and fastest-growing new modalities for the treatment of patients with solid tumors.
• The transaction is expected to be completed in the first half of next year and will be financed by issuing debt.