Bristol Myers Squibb announces the success of its tender offer for RayzeBio shares, for a purchase price of $62.50 per share, or approximately $4.1 billion, which expired overnight.

Equiniti Trust Company, the depositary for the offer, has advised that as of the expiration date, approximately 53,052.499 shares have been validly tendered, representing approximately 86% of RayzeBio's issued and outstanding common shares.

The parties expect the transaction to close on February 26, shortly after acceptance of all common shares validly tendered and not validly withdrawn pursuant to the offer.

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