Terns Pharmaceuticals Inc

Merck has finalized its $53-per-share cash acquisition of Terns Pharmaceuticals, causing Terns stock to stop trading on Nasdaq. The deal values Terns at $6.7 billion.

Merck has agreed to acquire Terns Pharmaceuticals in a $6.7 billion all-cash deal. Terns shares traded at $52.86, close to Merck's $53-per-share offer, as investors weigh the deal's completion.

Merck will purchase Terns Pharmaceuticals for $53 per share in cash, a transaction valued at approximately $6.7 billion. The acquisition provides Merck with an experimental leukemia therapy as it prepares for the loss of exclusivity for its blockbuster drug Keytruda.