Merck, known as MSD outside of the United States and Canada, and Terns Pharmaceuticals, Inc. (“Terns”), a clinical-stage oncology company, announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Terns for $53.00 per share in cash for an approximate equity value of $6.7 billion. This equates to approximately $5.7 billion net of acquired cash and represents an approximate premium of 31% to the 60-day and 42% to the 90-day volume-weighted average stock price on March 24, 2026. Read more.
