In December 2023, Karuna (KRTX) and Bristol Myers Squibb (BMY) announced they have entered into a definitive merger agreement under which Bristol Myers Squibb has agreed to acquire Karuna for $330.00 per share in cash, for a total equity value of $14B, or $12.7B net of estimated cash acquired. The Boards of Directors of both companies have unanimously approved the transaction. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including approval of Karuna stockholders and receipt of required regulatory approvals.
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