By Colin KellaherRayzeBio shares nearly doubled in premarket trading Tuesday after the clinical-stage radiopharmaceutical therapeutics company agreed to be acquired by Bristol Myers Squibb at a rich premium. Bristol Myers will pay $62.50 a share for RayzeBio, a 104% premium to Friday's closing price of $30.57. The deal carries an equity value of around $4.1 billion and a total value of $3.6 billion net of RayzeBio's cash on hand. RayzeBio shares were recently up 99% to $60.90 in premarket trading. Write to Colin Kellaher at colin.kellaher@wsj.com(END) Dow Jones NewswiresDecember 26, 2023 07:49 ET (12:49 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal December 26, 2023 13:00 UTC