Deals
Merck to Buy Cubist for $8.4 Billion to Add Antibiotics
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Merck & Co. agreed to buy Cubist Pharmaceuticals Inc. for $8.4 billion in cash to add products to help fight the growing threat of drug-resistant bacteria.
Merck will begin a $102-a-share tender offer for Cubist, the companies said in a statement today. The price is 37 percent above Cubist’s closing level on Dec. 5. Including net debt, the deal is valued at about $9.5 billion.