REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 8 (Reuters) - Bristol-Myers Squibb (BMY.N) on Sunday said it will acquire Mirati Therapeutics (MRTX.O) in a transaction that values the cancer drugmaker at up to $5.8 billion.
The company said that it will buy Mirati for $58 per share in cash.
Mirati stockholders will receive one non-tradeable contingent value right for each Mirati share held, potentially worth $12.00 per share in cash, representing an additional $1 billion of value opportunity, the company added.
Bristol-Myers Squibb will finance the transaction with a combination of cash and debt, the company said in a statement.
Last year, Bristol-Myers acquired drug developer Turning Point Therapeutics for $4.1 billion in cash to help bolster its arsenal of cancer drugs.
Persons:
Bristol Myers, Dado Ruvic, Myers, Chris Boerner, Giovanni Caforio, Boerner, Lavanya Ahire, Lisa Shumaker, Diane Craft, Andrea Ricci
Organizations:
Bristol, Bristol Myers Squibb, REUTERS, Myers Squibb, Mirati Therapeutics, Bristol Myers, Therapeutics, Thomson
Locations:
Bristol, U.S, New York