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Merck & Co (NYSE:MRK) has announced an acquisition of Harpoon Therapeutics (NASDAQ:HARP) that is expected to be completed 2024-H1.
Under the terms of the agreement, Merck & Co has agreed to give Harpoon Therapeutics $680.00 million in cash in exchange for HARP stock.
Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections. Within cancer, the firm's immuno-oncology platform is growing as a major contributor to overall sales.
Harpoon Therapeutics Inc is a clinical-stage immunotherapy company. It is engaged in developing a novel class of T cell engagers that harness the power of the body's immune system to treat patients suffering from cancer and other diseases.
An acquisition is when one company, called the acquiring company, buys most or all of another company's, or target company's, shares to gain ownership. Buying more than 50% of a company's stock allows the the acquirer to make decisions without the approval of the company's shareholders.
An acquisition can potentially lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
