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Merck Commences Tender Offer to Acquire Acceleron Pharma
Wednesday 13 October 2021

A subsidiary of New Jersey based pharmaceutical company Merck (NYSE: MRK), (known as MSD outside the United States and Canada) has commenced a cash tender offer to acquire all outstanding shares of common stock of Acceleron Pharma Inc. (NASDAQ: XLRN), the company said.

The USD 11.5bn, all-cash deal was announced in September.

Upon the successful closing of the tender offer, stockholders of Acceleron will receive USD 180 in cash for each share of Acceleron common stock validly tendered and not validly withdrawn in the offer, without interest and less any required tax withholding.

Following the purchase of shares in the tender offer, Acceleron will become a subsidiary of Merck.

The tender offer will expire at 5:00 p.m., eastern time, on Nov. 10, 2021, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.

Acceleron is focused on harnessing the power of the transforming growth factor (TGF)-beta superfamily of proteins that is known to play a central role in the regulation of cell growth, differentiation and repair.

Acceleron's lead therapeutic candidate, sotatercept, has a novel mechanism of action with the potential to improve short-term and/or long-term clinical outcomes in patients with pulmonary arterial hypertension (PAH), a progressive and life-threatening blood vessel disorder.

Sotatercept is in Phase 3 trials as add-on to current standard of care for the treatment of PAH.
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Date Published: 13/10/2021

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