Merck to acquire Inspire Pharma for $430 million
CHICAGO (Reuters) - Merck & Co (MRK.N) said on Tuesday it would acquire eye treatment maker Inspire Pharmaceuticals Inc ISPH.O for about $430 million to expand its ophthalmology portfolio.
The $5-per-share cash offer represents a 26 percent premium to Inspire's closing stock price on Monday.
The transaction has been unanimously approved by the boards of both companies. In addition, private equity firm Warburg Pincus WP.UL, which owns approximately 28 percent of Inspire's outstanding shares, has agreed to tender all of its shares into Merck's offer.
(Reporting by Susan Kelly, editing by Gerald E. McCormick)
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.