Verona Pharma Acquisition Nears Final Approval Following Shareholder Vote

Shareholders of Verona Pharma have officially greenlit the company’s proposed acquisition by pharmaceutical giant Merck. The $10 billion deal is now poised to proceed, bringing Merck a significant new asset for its respiratory medicine portfolio.

The transaction, which is scheduled for finalization on October 7, has already had a pronounced impact on Verona Pharma’s stock. Following the initial announcement in July, the share price surged by more than 20 percent. The market’s positive response reflects approval of the substantial acquisition premium and the strategic value Merck places on the biotech firm. The stock is currently trading near its all-time high, hovering just below the official takeover price and indicating strong investor confidence in the deal’s successful completion.

For... Read more...