After years of being a rumored biotech buyout target, Mirati was ultimately acquired by Bristol Myers Squibb earlier this month for $4.8 billion. But the pharma buyer once offered more than double that price, a securities filing reveals. Through the Oct. 8 deal, Bristol Myers is entering a rivalry with Amgen in targeting KRAS, the cancer-driving mutation once deemed undruggable. The SEC filing, which details the negotiations leading up to the deal, illustrates how the $58 a share that Bristol Myers agreed to pay for Mirati was cut down as the hope and hype around KRAS dwindled over the years’ worth of interest in the company.
Read the full article: How Bristol Myers’ Buyout Offer for Mirati Dwindled by Billions of Dollars //