RXDX - Abbvie Bristol Myers competed with Merck in sale of Prometheus - report

2023-05-01 13:29:00 ET

Abbvie ( ABBV ) and Bristol-Myers Squibb ( BMY ) competed to takeover Prometheus Biosciences ( NASDAQ: RXDX ), before Merck ( NYSE: MRK ) won in its pursuit of the biotech company.

The interest from other unidentified suitors for Prometheus ( RXDX ) was disclosed in a proxy filing on Friday.

"Party X," which told Prometheus on April 5 that was it was "very interested" in a deal, was Bristol-Myers, according to a B loomberg report, which cited people familiar. Party W, which offered to acquirer RXDX for $167.50 a share on April 12, was Abbvie ( ABBV ).

Merck ( MRK ) ultimately agreed to buy Prometheus ( RXDX ) for $10.8B in cash, or $200 a share , on April 16 to expand the pharma giant's focus on immunology.

More on Prometheus Biosciences and Merck

• Prometheus Biosciences had other bidders besides Merck - report
• Prometheus soars 70%, Merck dips after ~$11B buyout deal
• Merck: Going After Prometheus Biosciences
• Merck's Prometheus Acquisition Is A Step In The Right Direction
• Merck: Expensive Acquisition

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