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Merck commences tender offer to buy Acceleron Pharma

Kenilworth, New Jersey
Wednesday, October 13, 2021, 09:00 Hrs  [IST]

Merck, known as MSD outside the United States and Canada, is commencing, through a subsidiary, a cash tender offer to purchase all outstanding shares of common stock of Acceleron Pharma Inc.. On September 30, 2021, Merck announced that it had entered into a definitive agreement to acquire Acceleron.

Upon the successful closing of the tender offer, stockholders of Acceleron will receive $180 in cash for each share of Acceleron common stock validly tendered and not validly withdrawn in the offer, without interest and less any required tax withholding. Following the purchase of shares in the tender offer, Acceleron will become a subsidiary of Merck.

Merck will file today with the US Securities and Exchange Commission (the “SEC”) a tender offer statement on Schedule TO, which provides the terms of the tender offer. Additionally, Acceleron will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of the Acceleron board of directors that their stockholders accept the tender offer and tender their shares.

The tender offer will expire at 5:00 p.m., Eastern Time, on November 10, 2021, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The closing of the tender offer is subject to certain conditions, including the tender of shares representing at least a majority of the total number of Acceleron’s outstanding shares, receipt of applicable regulatory approvals, and other customary conditions. The transaction is expected to close in the fourth quarter of 2021.


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