JMP Securities Upgrades Idenix Pharmaceuticals Inc. (IDIX) to Market Perform
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More Details on Idenix Pharma (IDIX), Merck (MRK) Merger
June 9, 2014 12:02 PM EDTOn June 8, 2014, Idenix Pharmaceuticals, Inc., a Delaware corporation (Nasdaq: IDIX), entered into an Agreement and Plan of Merger (the Merger Agreement), among the Company, Merck & Co., Inc. (NYSE: MRK), a New Jersey corporation (Parent) and Imperial Blue Corporation, a Delaware corporation and a wholly-owned subsidiary of Parent (Merger Sub).
Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, Merger Sub will commence a tender offer (the Offer) to purchase all of the issued and outstanding shares (the Shares) of common stock, par value $0.001 per... More
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
