Merck: completes acquisition of Pandion Therapeutics

(CercleFinance.com) - Merck announced today that it has successfully completed its tender offer, through a subsidiary, for all of of Pandion Therapeutics' outstanding shares at a purchase price of 60 dollars per share.


At the end of the tender offer, 27,770,123 Pandion common stock, or approximately 88.6% of those in issue on a fully diluted basis, were tendered, Merck said, and that it expects to pay promptly.

After the deal, Pandion has become a wholly-owned subsidiary of Merck. Pandion's common stock will no longer be listed or traded on the Nasdaq Global Select Market.

The Merck share is down very slightly in early trading on Wall Street this Thursday.


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