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GSK launches $124-a-share takeover bid for cancer biotech Nuvalent
The offer is being made through Harmony Row Acquisition Co., a wholly owned GSK subsidiary, and targets all outstanding Class A and Class B shares of Nuvalent
- By IPP Bureau
| June 26, 2026
London-based pharma giant GSK has kicked off a formal tender offer to acquire U.S. cancer drug developer Nuvalent, Inc. in a deal valued at $124 per share in cash, the company announced on 24 June 2026.
The offer is being made through Harmony Row Acquisition Co., a wholly owned GSK subsidiary, and targets all outstanding Class A and Class B shares of Nuvalent, which trades on Nasdaq under the ticker NUVL.
GSK said the transaction is being conducted under a merger agreement signed on 9 June 2026, and that, following completion of the tender process, it expects to merge the acquisition vehicle into Nuvalent, making the biotech a wholly owned subsidiary.
The deal structure means no shareholder vote is required under Delaware law, with completion governed by Section 251(h), provided certain conditions are met.
Nuvalent’s board has already signalled support for the transaction, issuing a Schedule 14D-9 filing with the U.S. Securities and Exchange Commission that recommends shareholders accept the offer and tender their shares.
The offer will expire at one minute following 11:59 p.m. Eastern Time on 14 July 2026, unless extended or terminated earlier. GSK said it would proceed only if key conditions are met, including a minimum tender threshold and regulatory clearance under U.S. antitrust law.
The company also emphasized that the deal is not contingent on financing.
If completed, the acquisition would fold Nuvalent’s pipeline of targeted cancer therapies—focused on precision treatments for lung cancer and kinase-driven tumors—into GSK’s oncology portfolio, strengthening its push into next-generation cancer medicines.
