Bristol-Myers Squibb shells out billions for Mirati: 5 big deal reports

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Investing.com — Here is your Pro Recap of 5 head-turning deal dispatches you may have missed last week: deals at Bristol Myers Squibb/Mirati Therapeutics, Eli Lilly/Point Biopharma, Suncor Energy/TotalEnergies, deal talks at Exxon Mobil/Pioneer Natural Resources, and potential sale of EngageSmart.

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Bristol-Myers Squibb (NYSE:BMY) said Sunday that it has agreed to buy out Mirati Therapeutics (NASDAQ:MRTX) for $58.00 per share in cash, for a total equity value of $4.8 billion.

Mirati shareholders will also be granted a non-tradeable Contingent Value Right (CVR) for each Mirati share held, with the potential to be valued at $12 per share in cash, presenting an extra $1B in potential value.

Earlier last week, Reuters reported that French pharmaceutical giant Sanofi (NASDAQ:SNY) is exploring a potential acquisition of Mirati Therapeutics, which led to a 45% share surge on Thursday.

Pioneer Natural Resources (NYSE:PXD) soared 10% Friday on reports of ongoing negotiations between Exxon Mobil (NYSE:XOM) and the shale driller.

According to sources cited by the Wall Street Journal, this potential blockbuster deal could be valued at around $60B and may be finalized in the coming days, marking one of the oil group's largest acquisitions in more than two decades.

Pioneer shares were recently up another 1.7% in premarket trading Monday. Exxon shares were climbing 2.5%.

POINT Biopharma Global (NASDAQ:PNT) shares surged by more than 85% last Tuesday after Eli Lilly (NYSE:LLY) said it had agreed to buy the cancer biotech for around $1.4 billion. Under the terms of the deal, Lilly is offering $12.50 per Point Biopharma share held. Both Point and Lilly