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Bristol-Myers Squibb (NYSE:BMY) has announced a merger with RayzeBio (NASDAQ:RYZB) that is expected to be completed 2024-H1.
Under the terms of the agreement, Bristol-Myers Squibb has agreed to give RayzeBio $4.10 billion in cash in exchange for RYZB stock.
Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development.
RayzeBio inc is a company operating as vertically integrated radiopharmaceutical therapeutics company. The main objective of the company is defeating cancer with radiopharmaceutical medicines.
A merger happens when a company combines operations with another company. In practice, one company will buy the other company's stock in exchange for its own stock. In some cases, cash is used to pay for the company's stock but usually the companies agree to a stock-for-stock transaction.
Due to the exchange and acquisition of stock, a merger is similar to an acquisition. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
