Merck to Buy Immune Design for $5.85 A Share
February 21 2019 - 7:33AM
Dow Jones News
By Colin Kellaher
Merck & Co. (MRK) on Thursday said it agreed to buy
clinical-stage immunotherapy company Immune Design Corp. (IMDZ) for
$5.85 a share in cash, or about $300 million.
The purchase price is more than quadruple Immune Design's
Wednesday closing price of $1.42.
Merck expects to complete the acquisition, which the Kenilworth,
N.J., drug maker said bolsters its capabilities in vaccine
development for infectious diseases and cancer, early in the second
quarter.
Shares of Seattle-based Immune Design surged to $5.82 in
premarket trading Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 21, 2019 07:18 ET (12:18 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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