share_log

Bristol-Myers Squibb | SC TO-T/A: Third party tender offer statement (Amendment)

SEC announcement ·  Feb 17 00:41
Summary by Futu AI
Bristol-Myers Squibb Company, through its subsidiary Rudolph Merger Sub Inc., has announced an amendment to its tender offer to acquire all outstanding shares of RayzeBio, Inc. The offer, priced at $62.50 per share in cash, is detailed in an amended Schedule TO filed with the SEC on February 16, 2024. The amendment provides updated financial information, indicating that Bristol-Myers Squibb estimates a requirement of approximately $4.1 billion to complete the acquisition and related expenses. The company has confirmed the availability of sufficient funds to finance the acquisition, with $11.46 billion in cash and cash equivalents as of December 31, 2023. The funding sources include cash on hand, proceeds from a recent $13 billion Notes Offering, and potential short-term debt arrangements. The Notes Offering, completed on...Show More
Bristol-Myers Squibb Company, through its subsidiary Rudolph Merger Sub Inc., has announced an amendment to its tender offer to acquire all outstanding shares of RayzeBio, Inc. The offer, priced at $62.50 per share in cash, is detailed in an amended Schedule TO filed with the SEC on February 16, 2024. The amendment provides updated financial information, indicating that Bristol-Myers Squibb estimates a requirement of approximately $4.1 billion to complete the acquisition and related expenses. The company has confirmed the availability of sufficient funds to finance the acquisition, with $11.46 billion in cash and cash equivalents as of December 31, 2023. The funding sources include cash on hand, proceeds from a recent $13 billion Notes Offering, and potential short-term debt arrangements. The Notes Offering, completed on February 14, 2024, is not contingent upon the completion of the acquisition but includes mandatory redemption clauses for certain notes if the acquisition of Karuna Therapeutics, Inc. does not occur within a specified timeframe. The tender offer is not subject to any financing condition, and the amendment emphasizes that the financial condition of Bristol-Myers Squibb and its subsidiary is not relevant to shareholders' decisions regarding the tender offer.

This announcement is a separate document:

Doc 1

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.