Merck & Co Inc (MRK.N) said on Monday it would acquire cancer drug developer Imago BioSciences (IMGO.O) for a total equity value of $1.35 billion.
The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. REUTERS/Brendan McDermid/File Photo
Merck’s offer of $36 per share in cash for Imago represents nearly a 107% premium to the company’s last closing price.
The deal for the clinical-stage biopharmaceutical company that is developing drugs for the treatment of bone marrow-related diseases is expected to close in the first quarter of 2023, Merck said.
