Merck To Acquire Oncology Drug Developer ArQule

Merck, a leading developer of medicines and vaccines, has announced its intent to acquire ArQule, a publicly-traded, clinical-stage pharmaceutical firm with a pipeline of promising precision oncology treatments. The two companies entered into a definitive agreement earlier this month for Merck to purchase the Boston-based biotech at $20 per share – which brings its estimated total equity value to $2.7 billion...