Mr. Davis continues to position the company for the 2030s — and beyond. [There should be no problem clearing Hart-Scott on this deal.]

While I am still out of pocket, this did happen yesterday, and I wanted to note it:

…[Merck and Terns Pharma] today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Terns for $53.00 per share in cash for an approximate equity value of $6.7 billion. This equates to approximately $5.7 billion net of acquired cash and represents an approximate premium of 31% to the 60-day and 42% to the 90-day volume-weighted average stock price on March 24, 2026.

“The acquisition of Terns builds on our growing presence in hematology with TERN-701, a potential best-in-class candidate for the treatment of certain patients with chronic myeloid leukemia,” said Robert M. Davis, chairman and chief executive officer, Merck. “This transaction further diversifies and strengthens our position in oncology as we continue to look for opportunities to broaden our portfolio into other therapeutic areas….”

Now you know. Departing from Iowa’s med center in about six hours… grin.

नमस्ते