Lilly Joins Psychedelic Drug Race With AtaiBeckley Buyout – Merger Arbitrage Mondays

Jul 20, 2026

∙ Paid

AtaiBeckley Inc. (ATAI): $7.22

Market Cap: $2.66 B

Deal Value: $2.8 B

Eli Lilly and Company (LLY) entered into a merger agreement on July 16, 2026, to acquire AtaiBeckley in a deal valued at $2.8 billion, joining a growing race among pharmaceutical giants to develop psychedelic therapies for depression and other mental health conditions.

The deal reflects g…

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