Merck: begins tender offer to buy ArQule
(CercleFinance.com) - US drugmaker Merck on Tuesday launched its 20 dollar-a-share tender offer to purchase ArQule's outstanding shares.
The formal offer comes over a week after Merck said that it agreed to buy ArQule to gain access to the Nasdaq-listed company's lead B-cell malignancies candidate drug.
The all-cash transaction has a value of about 2.7 billion dollars.
The tender offer will expire on 15 January 2020, while the acquisition itself is expected to close early in the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The formal offer comes over a week after Merck said that it agreed to buy ArQule to gain access to the Nasdaq-listed company's lead B-cell malignancies candidate drug.
The all-cash transaction has a value of about 2.7 billion dollars.
The tender offer will expire on 15 January 2020, while the acquisition itself is expected to close early in the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.