Merck announced Tuesday that it has completed its multibillion-dollar tender offer for Idenix Pharmaceuticals, Inc.
The Whitehouse Station-based drugmaker said approximately 82.5 percent of Idenix shares were tendered at the purchase price of $24.50 per share. That means Merck will be able to formally complete the acquisition of the Massachusetts-based company Tuesday.
The purchase price values Idenix at approximately $3.85 billion.
Upon completion of the deal, Idenix will become a wholly owned subsidiary of Merck, and its common stock will no longer be traded.
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