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Stock Market & Financial Investment News

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August 5, 2014
06:05 EDTMRK, IDIXMerck completes tender offer to acquire Idenix for $24.50 per share
Merck (MRK) announced the completion of the tender offer for all of the outstanding shares of common stock of Idenix Pharmaceuticals (IDIX) at a purchase price of $24.50 per share. As of the tender offer expiration yesterday, 131,693,787 shares of common stock of Idenix were validly tendered and not withdrawn from the tender offer, representing approximately 82.5 percent of the outstanding common stock of Idenix on a fully diluted basis. Following consummation of the tender offer, Merck expects to complete the acquisition of Idenix through a merger of Merck’s wholly-owned subsidiary with and into Idenix without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Idenix, other than shares held by Idenix in treasury or shares held by Idenix’s stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $24.50 offer price per share without interest, less any applicable withholding taxes.
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