GSK Commences Tender Offer to Acquire RAPT Therapeutics for $58.00 Per Share in All-Cash Deal

summarizeSummary

GSK has formally commenced its tender offer to acquire RAPT Therapeutics for $58.00 per share in cash, following the definitive merger agreement announced on January 20, 2026.

check_boxKey Events

• Tender Offer Commenced

  GSK's subsidiary, Redrose Acquisition Co., has formally launched the tender offer to acquire all outstanding shares of RAPT Therapeutics.

• All-Cash Acquisition

  Shareholders are offered $58.00 per share in cash, without interest and subject to applicable withholding taxes.

• Board Unanimously Recommends Tender

  RAPT's Board of Directors unanimously recommends that shareholders accept the offer and tender their shares.

• Total Transaction Value

  The total transaction is valued at approximately $2.24 billion, encompassing outstanding shares, options, and warrants.

auto_awesomeAnalysis

This SC TO-T filing marks the formal commencement of the tender offer by GSK's subsidiary, Redrose Acquisition Co., to acquire all outstanding shares of RAPT Therapeutics. This follows the definitive merger agreement announced on January 20, 2026. The offer price of $58.00 per share in cash represents a significant premium over RAPT's stock price prior to the initial acquisition announcement. The total transaction is valued at approximately $2.24 billion, including shares, options, and warrants. RAPT's Board of Directors has unanimously recommended that shareholders tender their shares. The offer is subject to customary conditions, including a minimum tender of a majority of outstanding shares and regulatory approvals, but notably has no financing condition. This is a critical operational step towards the full acquisition, which will result in RAPT becoming a wholly-owned subsidiary of GSK and its shares being delisted.