M&A · Healthcare · Pharmaceutical Preparations
GSK plc to acquire Nuvalent, Inc.
Announced Jun 9, 2026 · Closed Jul 15, 2026
Deal value$10.60BEV $10.44B
Premium40.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$124.00 per share
Transaction
- Acquirer
- GSK plc (GSK)
- Target
- Nuvalent, Inc. (NUVL)
- Buyer type
- Strategic
- Offer price per share
- $124.00
- Enterprise value
- $10.44B
- Status
- Closed Jul 15, 2026
Deal protections
- Break fee (target pays)
- $350M · 3.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Leerink Partners, Citigroup
- To the target
- Centerview
- Centerview fee
- $100M
Sector context · Healthcare
- Comparable deals
- 99 in the prior 24 months
- Premium
- 40.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 10.9x
- Break fee
- 3.3% vs. 3.4% sector median
Timeline
- AnnouncedJun 9, 2026
- Tender offerJun 24, 2026
- ClosedJul 15, 2026
Valuation · fairness opinions
Trading comparables$74.50$131.95
Precedent transactions$83.20$149.05
Discounted cash flow$106.15$125.55
Analyst price targets$116.00$172.00
Premiums paid$119.45$154.85
Offer $124.00
Implied value per Nuvalent, Inc. share by analysis, from Centerview · DCF discount rate 12%–14%.