Terns Pharma climbs on Merck's $6.7 bln takeover deal

Terns Pharmaceuticals

25/03/2026 11:02

Updates

** Shares of biotech firm Terns Pharma TERN.O up 5% at $52.54 premarket

** Merck MRK.N says it will buy Terns in a deal valued at about $6.7 billion

** Merck will pay $53 per share in cash, a premium of 6% to TERN stock's last close

** MRK shares edge 0.3% higher in light volumes

** The deal is expected to close in the second quarter of 2026

** As of last close, TERN stock up 23.7% YTD, following a more than sevenfold rise in 2025

 (Reporting by Tharuniyaa Lakshmi and Kamal Choudhury in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))