Power Alley Return: Merck To Buy Immuno R&D Company Pandion For 134% Premium Over Last Closing Price

More, after a few office appointments.

Here’s a wire summary — but clearly good news for Kenilworth:

. . . .Merck announced an agreement Thursday to buy Pandion Therapeutics Inc. in a deal valued at $1.85 billion. Under terms of the deal, Merck will pay $60 in cash for each Pandion share outstanding, which represents a 134.1% premium to Wednesday’s closing price.

Pandion is a biotechnology company which uses its TALON technology to develop autoimmune treatments. The deal is expected to close in the first half of 2021. Merck shares rose 0.6% in premarket trading, while Pandion’s stock was still untraded. . . .

Onward. . . rushing. Kinda’ a busy day — on the billable side. . . . grinning. [Updated: Gratifying to see Cy Vance’s team of forensic accountants and financial crimes prosecutors have the millions of pages now, in the shop. Just time and tide now, love — time, and tide. . . Quite a sunny day, for America. . . .]

नमस्ते

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