Summary by Moomoo 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