4 years ago
A cancer-drug developer's stock just surged more than 100% after Merck agreed to a multi-billion-dollar takeover
Shares of the cancer-drug developer ArQule spiked as much as 102% early Monday after Merck said it would acquire the firm in a $2.7 billion takeover. Merck offered $20 per share in the all-cash bid, more than double ArQule's Friday closing price. The deal is expected to close in the first quarter of 2020, the companies said in a press release.
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