WHITEHOUSE STATION (dpa-AFX) - Drugmaker Merck (MRK) said that through a subsidiary, it is commencing a cash tender to purchase all outstanding shares of common stock of Cubist Pharmaceuticals, Inc. (CBST). On Dec. 8, 2014, Merck announced its intent to acquire Cubist.
The company said that, upon the successful closing of the tender offer, stockholders of Cubist will receive $102.00 in cash for each share of Cubist common stock validly tendered and not properly withdrawn in the offer, without interest and less any required withholding taxes. Following the purchase of shares in the tender offer, Cubist will become a wholly owned subsidiary of Merck.
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