BNTX - Merger Arbitrage Mondays - Multiple 'Deals In The Works' Get Confirmed
Merger activity increased last week with four new deals announced and two deals closing. Out of the four deals announced, three were cash deals and one was an all-stock deal.
The acquisition of Forty Seven ([[FTSV]]) by Gilead Sciences ([[GILD]]) was the first deal announced last week. FTSV stock rocketed after the deal was announced. Gilead agreed to pay $95.50 for each Forty Seven share, a 64.7 premium to Friday's closing price of $58.00. This deal will help Gilead expand its cancer drug pipeline. Through the addition of Forty Seven’s investigational lead product candidate, magrolimab,