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Merck Announces Expiration of Hart-Scott-Rodino Act Waiting Period to Acquire Terns Pharmaceuticals, Inc.

MRKTERN
  • Merck's HSR waiting period for its pending acquisition of Terns Pharmaceuticals expired at 11:59 p.m. ET on April 23, 2026.
  • Merck initiated a cash tender offer on April 7, 2026, to purchase all outstanding Terns shares for $53.00 per share.
  • The expiration of the HSR waiting period satisfies one condition required to consummate the tender offer.
  • Final consummation remains subject to other conditions, including receiving tenders for more than 50% of Terns' outstanding shares.
  • Merck is known as MSD outside the United States and Canada.
  • Tender offer documents, including the Schedule TO filed with the SEC, are available via the SEC website or directly from Merck and Terns.
  • The news release includes forward-looking statements regarding the transaction, which are subject to various risks and uncertainties.