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Merck Reports Successful Completion Of Cash Tender Offer For Immune Design

Merck (MRK) announced the successful completion of the cash tender offer, through a subsidiary, for all of the outstanding shares of common stock of Immune Design (IMDZ) at a purchase price of $5.85 per share. The company reported that, as of the tender offer expiration, 41,970,607 shares of common stock of Immune Design were validly tendered and not withdrawn from the tender offer, representing approximately 86.75 percent of the outstanding common stock of Immune Design on a fully diluted basis.

Merck expects to complete the acquisition of Immune Design on April 2 through a merger of Merck's subsidiary with and into Immune Design in which all shares not tendered into the offer will be canceled and converted into the right to receive cash equal to the $5.85 offer price per share without interest, less any applicable withholding taxes.

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