AtaiBeckley Soars to Four-Year High on $3.8 Billion Eli Lilly Merger

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Summary · why it matters

AtaiBeckley shares surged to a four-year high after Eli Lilly agreed to acquire the company for up to $3.8 billion. The stock hit an intraday record of $7.22 before closing at $7.15, up 33.4 percent. Under the deal, AtaiBeckley shareholders will receive $6.75 per share in cash plus up to $2.50 per share in contingent value rights tied to milestones, representing a potential 72 percent premium over Wednesday's close. The transaction, expected to close in the third quarter, aims to expand Eli Lilly's presence in treatment-resistant depression and severe psychiatric disorders. Hedge fund ownership rose to 35 funds holding $125 million in the first quarter, up from 23 funds with $96.47 million in the prior quarter.

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Acquisition expands Eli Lilly's pipeline in treatment-resistant depression and severe psychiatric disorders.

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