Merck (NYSE:MRK) commences a cash tender offer to purchase all outstanding common shares of ArQule (NASDAQ:ARQL).
Upon closing of the tender offer, stockholders of ArQule will receive $20 in cash for each common share, following which ArQule will become a wholly-owned subsidiary of Merck.
Merck will file with the SEC a tender offer statement on Schedule TO, which provides the terms of the tender offer.
The tender offer will expire on January 15, 2020.
Previously: ArQule up 101% premarket on Merck bid (Dec. 9)
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