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news.Merck has received antitrust clearance from the competition authorities in Germany and Austria to tender offer for the acquisition of clinical-stage biopharmaceutical firm Acceleron Pharma.
Merck expects the acquisition to complement and strengthen its cardiovascular portfolio and pipeline. Credit: Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc.
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Merck has received antitrust clearance from the competition authorities in Germany and Austria to tender offer for the acquisition of clinical-stage biopharmaceutical firm Acceleron Pharma.
The latest move follows a definitive agreement signed by the company for the acquisition last month.
Merck, through its subsidiary, commenced a cash tender offer to acquire Acceleron’s all outstanding shares, for $180 per share, as announced on 12 October this year.
The antitrust clearance satisfies one of the conditions required to complete the tender offer.
Merck stated: “As previously announced on 29 October 2021, the tender offer will expire at 5:00 p.m., Eastern Time, on 18 November 2021, unless further extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.”
The transaction is anticipated to be concluded in the fourth quarter of this year.
Merck’s subsidiary will be merged into Acceleron after completion of the acquisition.
Based in Cambridge, Massachusetts, US, Acceleron is into research, development, and marketing of therapies to treat serious and rare diseases.
Through this acquisition, Merck will obtain access to Acceleron’s sotatercept, an investigational reverse-remodeling agent.
In the Phase III trial, sotatercept is currently being assessed as an add-on therapy to the present standard of care to treat PAH.
Merck expects the acquisition to complement and strengthen its cardiovascular portfolio and pipeline.
