Merck to buy Imago BioSciences for more than double Friday's price
Shares of Imago BioSciences Inc.
soared toward an eight-month high in premarket trading Monday, after the biopharmaceutical company developing treatments for myeloproliferative neoplasms and other bone marrow diseases announced an agreement to be acquired by Merck & Co. Inc. MRK, +1.88% in a cash deal with a equity value of $1.35 billion. Under terms of the deal, Merck will pay $36.00 for each Imago share, which represents a 106.9% premium to Friday's closing price of $17.40.
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