Terns Pharmaceuticals stock stops trading as Merck’s $53 cash deal takes over the chart
Merck has completed its acquisition of Terns Pharmaceuticals, ending Terns’ Nasdaq trading. The last quoted price for Terns shares was $52.95, just below Merck’s $53-per-share cash offer. Over 100 million shares were tendered, allowing Merck to finalize the merger. Terns is now a wholly owned Merck subsidiary.