Merck (MRK) Completes Acquisition of ArQule (ARQL)

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the successful completion of the cash tender offer, through a subsidiary, for all of the outstanding shares of common stock of ArQule, Inc. (NASDAQ: ARQL) at a purchase price of $20.00 per share. As of the tender offer expiration, 103,394,298 shares of common stock of ArQule were validly tendered and not withdrawn from the tender offer, representing approximately 75.3 percent of the outstanding common stock of ArQule on a fully diluted basis. All such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for such shares.

Following the completion of the tender offer, Merck completed the acquisition of ArQule today through a merger of Merck’s wholly-owned subsidiary with and into ArQule in which all shares not tendered into the offer were cancelled and converted into the right to receive cash equal to the $20.00 offer price per share, without interest, less any applicable tax withholding. At the completion of the merger, ArQule became a wholly-owned subsidiary of Merck. The common stock of ArQule will no longer be listed or traded on the NASDAQ Global Select Market.

You May Also Be Interested In

• Citadel unwinds 80% of Aschenbrenner’s portfolio risk - report
• Elroy Air wins $46M U.S. Army contract for cargo drone system
• Greenland approves rare earths license transfer to Greenland Mines