M&A · Healthcare · Pharmaceutical Preparations
Bristol Myers Squibb Co to acquire RayzeBio, Inc.
Announced Dec 26, 2023 · Closed Feb 26, 2024
Deal value$4.10BEV $3.85B
Premium104.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$62.50 per share
Transaction
- Acquirer
- Bristol Myers Squibb Co (BMY)
- Target
- RayzeBio, Inc. (RYZB)
- Buyer type
- Strategic
- Offer price per share
- $62.50
- Enterprise value
- $3.85B
- Status
- Closed Feb 26, 2024
Deal protections
- Break fee (target pays)
- $104M · 2.5%
- Reverse fee (buyer pays)
- $141M · 3.4%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- BofA Securities
- To the target
- Centerview
Sector context · Healthcare
- Comparable deals
- 100 in the prior 24 months
- Premium
- 104.0% vs. 52.5% sector median
- EV / Adj. EBITDA
- Sector median 17.1x
- Break fee
- 2.5% vs. 3.5% sector median
Timeline
- AnnouncedDec 26, 2023
- Tender offerJan 25, 2024
- ClosedFeb 26, 2024