Baird Upgrades Idenix Pharmaceuticals (IDIX) to Neutral on Takeover
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Merck (MRK) to Acquire Idenix Pharma (IDIX) for $24.50/Share
June 9, 2014 7:31 AM EDTMerck (NYSE: MRK), known as MSD outside the United States and Canada, and Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX), today announced that the companies have entered into a definitive agreement under which Merck will acquire Idenix for $24.50 per share in cash. The transaction, which values the purchase of Idenix at approximately $3.85 billion, has been approved by the boards of directors of both companies.
Idenix has established a promising portfolio of hepatitis C candidates based on its expertise in nucleoside/nucleotide chemistry and prodrug technologies, said Dr. Roger Perlmutter, president, Merck Research... More
