Wednesday, February 21, 2018 8:07:24 AM
APHB.... buy out candidate
Shorts covering and going LONG!
Merck to buy Viralytics for $394M
Feb. 21, 2018 5:34 AM ET|About: Merck & Co Inc. (MRK)|By: Yoel Minkoff, SA News Editor
•Already one of the leaders in the hot area of cancer immunotherapy, Merck & Co (NYSE:MRK) has agreed to buy Viralytics (OTCQX:VRACY) for A$502M ($394M) to expand its drug pipeline.
•The deal comes at a time of booming merger and acquisition activity in the biotechnology sector, with $27.5B of transactions agreed in January alone.
•On completion of the transaction, Viralytics will become a subsidiary of Merck.
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