Merck Acquires Terns Pharma for $5.7 Billion in Cash
Merck & Co., Inc. (MRK) entered a merger agreement on March 25, 2026, to acquire Terns Pharmaceuticals, Inc. (TERN) in an all-cash deal valued at $5.7 billion. Deal Structure:…
Written byAsif SuriaSource: InsideArbitrage
Merck & Co., Inc. (MRK) entered a merger agreement on March 25, 2026, to acquire Terns Pharmaceuticals, Inc. (TERN) in an all-cash deal valued at $5.7 billion. Deal Structure: Merck, through a subsidiary, will acquire Terns for $53 per share in cash, representing a premium of 6% from the stock’s last close. Company Profile: Terns