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Merck & Co Inc to acquire Idenix Pharmaceuticals Inc

Monday, 9 Jun 2014 07:30am EDT 

Merck & Co Inc and Idenix Pharmaceuticals Inc:Says the companies have entered into a definitive agreement under which Merck will acquire Idenix for $24.50 per share in cash.The transaction, which values the purchase of Idenix at about $3.85 billion, has been approved by the boards of directors of both companies.Upon the completion of the tender offer, Merck will acquire all remaining shares through a second-step merger.The companies expect the transaction to close in the third quarter of 2014.Credit Suisse acted as financial advisor to Merck in this transaction and Hughes Hubbard & Reed LLP as its legal advisor.Centerview Partners acted as financial advisor to Idenix and Sullivan & Cromwell as its legal advisor. 

Company Quote

0.68 +1.24%
24 May 2016