Terns Pharmaceuticals has announced that its acquisition by Merck & Co. (MSD) is now complete, following a tender-offer completion and merger confirmed in May 2026.
The deal was originally set to close between March and May 2026 with an equity value of $6.7 billion.
Merk & Co.'s press release confirms the acquisition at a price of $53.00 per share, resulting in a total value of $6.7 billion held by MSD.
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