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MRTX.US

Mirati (MRTX) M&A Case

D. Delaware
Court
1:23-cv-01297
Case number
  • Bristol-Myers said it would acquire Mirati for $58.00 in cash per share plus $12.00 CVR.
  • Before the deal, analyst targets were higher than the offered price.
  • The lawsuit alleges that the proposed $MRTX sale price undervalues the company.
On October 8, 2023, Bristol-Myers Squibb announced it would acquire Mirati Therapeutics for up to $5.8 billion.
  • The deal offers Mirati shareholders $58.00 in cash per share, and
  • Contingent Value Right, which would grant an extra $12.00 in cash if the FDA accepts the NDA of MRTX1719 for specific treatment criteria within seven years post-merger.
Just before the proposed deal, investment banks' targets were higher than the acquisition price, analysts from Barclays forecasted $71, Leerink - $78, and Stifel - $83.

Taking all facts into account, investors have reasons to suspect that this deal underestimates $MRTX's full and fair value.
Alleged Offence
Mismanagement
Financial Misrepresentation
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 November 2023
Filing date
14 November 2023
Collecting participants…
Created by Polina Foster, Scout

Mirati Ther

Mirati Therapeutics, Inc., a commercial-stage oncology company, develops novel therapeutics to address the genetic and immunological promoters of cancer in the United States. The company provides K...

    Ticker
    MRTX.US
    ISIN
    US60468T1051
    CIK
    1576263
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    3545 Cray Court, San Diego, CA, United States, 92121