June 9, 2014 / 11:51 AM / in 4 years

Merck to buy Idenix for about $3.85 billion

June 9 (Reuters) - Merck & Co Inc said it would buy Idenix Pharmaceuticals Inc in a deal valued at about $3.85 billion to complement its hepatitis C portfolio.

Merck will pay $24.50 per share in cash - more than three times Idenix’s Friday closing price.

The companies said they expect the transaction to close in the third quarter. (Reporting by Natalie Grover in Bangalore; Editing by Maju Samuel)

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