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Covington-Led Bristol Myers To Buy Karuna In $14B Deal

Law 360 M&A

Covington & Burling LLP-advised Bristol Myers Squibb said Friday it has agreed to buy Boston-based biotechnology company Karuna Therapeutics Inc. for $14 billion, leading Karuna's stock to jump more than 47% in pre-market trading.

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Karuna Faces Investor Suit Over $14B Bristol Myers Buyout

Law 360 M&A

A Karuna Therapeutics Inc. shareholder has filed suit against the Boston-based biotechnology company alleging a proxy statement related to a proposed $14 billion buyout deal between Karuna and Bristol Myers Squibb contained false and misleading information and omitted key facts.

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Bristol Myers to Acquire the Drugmaker Karuna for $14 Billion

NYT M&A

The deal is a bet on the growing market for psychiatric and neurological drugs.