The sudden $10.6 billion acquisition of Nuvalent (NASDAQ: NUVL) by GSK (NYSE: GSK) violently shatters a lingering mergers and acquisitions (M&A) drought across the mid-cap biotechnology sector.
The all-cash buyout at $124 per share represents a roughly 40% premium over recent closing levels and a 26% premium over a 30-day volume-weighted average price.