GSK in Talks to Buy Nuvalent for More Than $9 Billion: FT (1)

GSK Plc is in discussions to purchase cancer treatment maker Nuvalent Inc. for between $9 billion and $10 billion, the Financial Times reported, citing unidentified people familiar with the matter.

The firms were locked in talks late Monday with the goal of reaching an agreement as soon as this week, though the discussions could still fall apart altogether due to last-minute hurdles, the paper said.

The deal would be a hefty premium on Cambridge, Massachusetts-based Nuvalent’s market capitalization of nearly $7 billion. It would be one of GSK’s biggest-ever purchases, according to the FT.

GSK and Nuvalent didn’t immediately ...