Merck moves to acquire ArQule

Merck, through a subsidiary, is commencing a cash tender offer to purchase all outstanding shares of common stock of ArQule, Inc. On December 9, 2019, Merck announced its intent to acquire ArQule. Upon the successful closing of the tender offer, stockholders of ArQule will receive USD 20 in cash for each share of ArQule common stock, validly tendered and not validly withdrawn in the offer, without interest and less any required withholding taxes. Following the purchase of shares in the tender offer, ArQule will become a wholly-owned subsidiary of Merck. The deal, expected to close early in the first quarter of 2020, would give Merck access to ArQule’s experimental treatment ARQ 531, a precision medicine that tailors treatment to a patient’s genetic profile.