Merck/Inspire Pharmaceuticals
On April 5, 2011, Merck (NYSE: MRK) and Inspire Pharmaceuticals, Inc. (Nasdaq: ISPH) announced that they have entered into a definitive agreement whereby Merck will acquire Inspire for $5.00 per share in cash, or total consideration of $430 million.
The transaction has been unanimously approved by the boards of directors of both companies and Inspire’s board recommended that the company's shareholders tender their shares pursuant to the tender offer. In addition, Warburg Pincus Private Equity IX, L.P., which owns approximately 28 percent of the outstanding shares of Inspire, has agreed to tender all of its shares into the offer.
The transaction has been unanimously approved by the boards of directors of both companies and Inspire’s board recommended that the company's shareholders tender their shares pursuant to the tender offer. In addition, Warburg Pincus Private Equity IX, L.P., which owns approximately 28 percent of the outstanding shares of Inspire, has agreed to tender all of its shares into the offer.
