Bristol Myers Squibb Company looked to speed up its deal to acquire RayzeBio, Inc. as it became clear that two other companies were also in a race to buy it, ultimately leading the drug maker to greatly increase its per-share offering price, a regulatory filing by RayzeBio shows.
The 25 January Securities and Exchange Commission filing goes into detail about how BMS’s deal to acquire the San Diego-based radiopharmaceuticals-focused biotech for $4.1bn, or $62.50 per share, happened
Key Takeaways
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An SEC filing shows that Bristol Myers Squibb beat out two competing suitors to acquire RayzeBio.
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The race was on when, on 15 December, one of the other companies escalated its initial interest in a partnership to an offer to acquire the San Diego-based biotech
