Novartis to Acquire Avidity Biosciences in $12 Billion Merger Deal

"Avidity Biosciences, Inc. has entered into a definitive merger agreement to be acquired by Novartis AG for $72.00 per share, valuing the company at approximately $12 billion. The acquisition will occur after Avidity separates its early-stage precision cardiology programs into a new publicly traded company, SpinCo, which will have $270 million in cash. The deal is expected to close in the first half of 2026, pending regulatory approvals and stockholder consent. Kirkland & Ellis provided legal counsel for the transaction."