October 05, 2021 | Health Care | North America | Ended

Acceleron Pharma / Merck & Co: New Deal Insights

US life sciences group Merck said on 30-Sep-21 it had reached an agreement to buy biotech firm Acceleron Pharma for $180 per share, to broaden Merck’s portfolio of treatments beyond its aging cancer drug, Keytruda. The offer price represents a 2.6% one-day premium but a 34.6% premium to 16-Sep-21, the day prior to an increase in Acceleron’s trading volumes and an untoward movement in the target’s share price prior to Wall Street Journal speculation of a potential deal on 27-Sep-21. Structured as a tender offer, the takeover is subject to a minimum acceptance condition of 50% yet no Merck shareholder vote is needed. Offer conditions include clearances from antitrust regulators in the US, Germany, and ...

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