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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.
Comments (2)
    , contributor
    Comments (3) | Send Message
    This suit is a very small nuisance by a bit player.
    16 Jun, 08:56 PM Reply Like
  • MichaelJ8
    , contributor
    Comments (601) | 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, 12:14 AM Reply Like
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