Merck shareholder tries to scuttle the Idenix deal


Merck (MRK -0.3%) shareholder Ronald Burns files suit (Burns vs Idenix Pharmaceuticals) attempting to block its $3.9B acquisition of Idenix (IDIX +1.4%) stating that the price undervalues IDIX. He cites IDIX's intrinsic value and a flawed process that prevents competing bids.

The deal includes a no-solicitation clause, grants MRK the right to match any superior offer and stipulates a $115.6M termination fee. Mr. Burns alleges that these clauses virtually assure Merck gets the deal.

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Comments (2)
  • KNUCKLE HEAD
    , contributor
    Comments (18) | Send Message
     
    This suit is a very small nuisance by a bit player.
    16 Jun 2014, 08:56 PM Reply Like
  • MichaelJ8
    , contributor
    Comments (876) | Send Message
     
    but hes right, the deal is poor, IDIX could have gotten more, should have gotten at least 2x-3x more than what they got.
    17 Jun 2014, 12:14 AM Reply Like
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