(Reuters) -Bristol-Myers Squibb on Sunday said it will acquire cancer drugmaker Mirati Therapeutics for $58 per share in cash, representing $4.8 billion equity value.

Bristol-Myers Squibb will finance the transaction with a combination of cash and debt.

The transaction is expected to be dilutive to Bristol-Myers Squibb's non-GAAP earnings per share by approximately 35 cents per share in the first 12 months after the transaction closes.

Mirati stockholders will receive one non-tradeable Contingent Value Right for each Mirati share held, potentially worth $12.00 per share in cash.

The U.S. health regulator had in December approved Mirati's lung cancer drug, Krazati, to treat adults with advanced lung cancer.

(Reporting by Dimpal Gulwani; Additional reporting by Lavanya Ahire; Editing by Lisa Shumaker and Diane Craft)