© Reuters. FILE PHOTO: Test tubes are seen in front of a displayed Bristol Myers Squibb logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Bristol-Myers Squibb on Sunday said it will acquire cancer drugmaker Mirati Therapeutics (NASDAQ:) for $58 per share in cash, representing $4.8 billion equity value.
Bristol-Myers Squibb (NYSE:) 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.
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