Merck nears $6 billion all-cash deal to buy Terns Pharma, FT reports

Merck is nearing a roughly $6 billion all-cash acquisition of biotech firm Terns Pharma, the Financial Times reported citing people familiar with the matter. The transaction would be a sizable, strategic bolt-on for Merck and is likely to move Merck and sector peers' share prices if completed. Terms remain unconfirmed and the deal is reported as imminent rather than finalized.

Analysis

Merck is nearing a roughly $6 billion all-cash acquisition of biotech firm Terns Pharma, the Financial Times reported citing people familiar with the matter. The transaction would be a sizable, strategic bolt-on for Merck and is likely to move Merck and sector peers' share prices if completed. Terms remain unconfirmed and the deal is reported as imminent rather than finalized.