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Big pharma Merck (MRK) agreed to buy antibiotic specialist Cubist Pharmaceuticals (CBST) Monday in a deal valued at $9.5 billion. Cubist soared 35% in the stock market today, while Merck dropped a fraction. Merck is acquiring Cubist for $102 a share in cash, yielding an equity value of $8.4 billion, plus $1.1 billion in net debt. Merck said the buyout should add more than $1 billion annually to its revenue base, which is currently about $43 Scalper1 News
Scalper1 News