Bristol Myers Squibb Acquires Mirati Therapeutics in a $5.8 Billion Deal
Pro Recap of 5 Head-Turning Deals you may have Missed
Last week saw several major deals that captured the attention of investors. Let’s take a closer look at five of the most significant ones: Bristol Myers Squibb/Mirati Therapeutics, Eli Lilly/Point Biopharma, Suncor Energy/TotalEnergies, Exxon Mobil/Pioneer Natural Resources, and the potential sale of EngageSmart. Keep reading to find out more.
Bristol Myers Squibb’s Acquisition of Mirati Therapeutics
Bristol Myers Squibb has made a significant move by acquiring Mirati Therapeutics for a whopping $4.8 billion. This deal involves a cash purchase of $58.00 per share, with an additional non-tradeable Contingent Value Right (CVR) for each Mirati share held, potentially adding $1 billion in value. The acquisition has the potential to reshape the pharmaceutical landscape and create exciting opportunities for both companies.
ExxonMobil’s Talks with Pioneer Natural Resources
ExxonMobil is currently engaged in negotiations with Pioneer Natural Resources, with reports suggesting a potential deal valued at around $60 billion. If finalized, this acquisition would mark one of ExxonMobil’s largest in over two decades. The talks have already had a positive impact on both companies’ stock prices, with Pioneer Natural Resources soaring 10% and ExxonMobil climbing 2.5%.
Eli Lilly’s Acquisition of Point Biopharma
Eli Lilly has announced its plans to acquire cancer biotech company Point Biopharma for approximately $1.4 billion. This deal will allow Eli Lilly to expand its portfolio and strengthen its position in the pharmaceutical industry. Point Biopharma’s shares saw a massive surge of over 85% following the announcement, indicating investor confidence in the acquisition.
Suncor Energy’s Purchase of TotalEnergies Canada
Suncor Energy has acquired TotalEnergies’ Canadian operations, including its 31.23% working interest in the Fort Hills oil sands mining project, for C$1.468 billion. This strategic move will allow Suncor Energy to maximize the utilization of its wholly-owned Base Plant upgraders and enhance its access to long-life, physically-integrated bitumen supply. The acquisition is expected to have a significant positive impact on Suncor Energy’s future growth.
General Atlantic Considers Sale of EngageSmart
Private equity firm General Atlantic LLC is reportedly exploring the sale of EngageSmart. While no definitive deal has been confirmed, investment banks Goldman Sachs Group and Evercore are working with EngageSmart on a potential sale process. General Atlantic holds a 54% stake in EngageSmart and may consider a gradual sell-down of its stake on the stock market. This potential sale has already generated a lot of interest in the market, with EngageSmart’s shares closing the week with a 15% gain.
These five deals highlight the dynamic nature of the business world and the opportunities it presents for investors. Stay informed and make the most of these market-moving headlines!
