Eli Lilly & Co.'s $8bn acquisition of genetics-based cancer specialist Loxo Oncology Inc. happened quickly and without any other bidders involved, according to filings with the Securities & Exchange Commission outlining how the deal materialized.
Lilly raised its offer for Loxo just once from $230 per share to $235 per share before it was accepted by Loxo's board of directors, which opted not to reach out to third parties