Patent cliff looming, billion-dollar Imago buy is small fry for Merck
New Jersey, USA-based Merck & Co (NYSE: MRK) is targeting bone marrow disorders with the $1.35 billion all-cash acquisition of Imago BioSciences (Nasdaq: IMGO).
The news doubled the value of stock in Imago, a Californian company specializing in the modulation of the LSD1 protein, with shares changing hands for $35 a piece on Monday.
Under the terms of its tender offer, Merck will acquire outstanding shares in the company for $36 each.
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