Bristol Myers Squibb Buys RayzeBio, Its Second Multibillion-Dollar Deal in Days

Key TakeawaysBristol Myers Squibb Co. announced it was buying RayzeBio Inc. for $4.1 billion, its second multibillion-dollar deal in less than a week.The agreement offers RayzeBio shareholders a 104% premium to their stock's closing price Friday, and shares of RayzeBio doubled in price after the news in Tuesday trading.Both recent company purchases expand Bristol-Myers Squibb's cancer-fighting portfolio.RayzeBio Inc. (RYZB) shares skyrocketed Tuesday after Bristol Myers Squibb Co. (BMY) said it was buying t ...