logo
Plus   Neg
Share
Email

Merck To Acquire ArQule For $20/share In Cash - Quick Facts

Biopharmaceutical company Merck (MRK), known as MSD outside the U.S. and Canada, agreed Monday to acquire, through a subsidiary, its peer ArQule, Inc. (ARQL) for $20 per share in cash for an approximate total equity value of $2.7 billion. The transaction is expected to close early in the first quarter of 2020.

ArQule is a publicly traded biopharmaceutical company focused on kinase inhibitor discovery and development for the treatment of patients with cancer and other diseases.

The acquisition of ArQule further diversifies Merck's oncology pipeline with expansion into targeted therapies that treat hematological malignancies.

ArQule's lead investigational candidate, ARQ 531, is a novel, oral Bruton's tyrosine kinase (BTK) inhibitor currently in a Phase 2 dose expansion study for the treatment of B-cell malignancies.

Under the terms of the agreement, Merck, through a subsidiary, will initiate a tender offer to acquire all outstanding shares of ArQule at $20 per share.

The closing of the tender offer is primarily subject to the tender of shares representing at least a majority of the total number of ArQule's outstanding shares and other customary conditions. Upon the successful completion of the tender offer, Merck's acquisition subsidiary will be merged into ArQule.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
Follow RTT