M&A · Healthcare · Pharmaceutical Preparations
GSK plc to acquire RAPT Therapeutics, Inc.
Announced Jan 20, 2026 · Closed Mar 3, 2026
Deal value$2.20BEV $2.16B
Premium65.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$58.00 per share
Transaction
- Acquirer
- GSK plc (GSK)
- Target
- RAPT Therapeutics, Inc. (RAPT)
- Buyer type
- Strategic
- Offer price per share
- $58.00
- Enterprise value
- $2.16B
- Status
- Closed Mar 3, 2026
Deal protections
- Break fee (target pays)
- $78.4M · 3.6%
- Reverse fee (buyer pays)
- $101M · 4.6%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Evercore
- To the target
- JPMorgan
- JPMorgan fee
- $50.4M
Sector context · Healthcare
- Comparable deals
- 97 in the prior 24 months
- Premium
- 65.0% vs. 53.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.6% vs. 3.4% sector median
Timeline
- AnnouncedJan 20, 2026
- Tender offerFeb 2, 2026
- ClosedMar 3, 2026
Valuation · fairness opinions
Discounted cash flow$49.45$62.05
Premiums paid$50.95$73.40
Analyst price targets$56.00$95.00
Analyst price targets$49.55$84.05
Offer $58.00
Implied value per RAPT Therapeutics, Inc. share by analysis, from JPMorgan · DCF discount rate 12%–14%.