Merck Completes Acquisition Of Pandion - Quick Facts

(RTTNews) - Merck (MRK) announced the successful completion of the cash tender offer, through a subsidiary, for all of the outstanding shares of common stock of Pandion Therapeutics, Inc. (PAND) at a purchase price of $60 per share. As of the tender offer expiration, 27,770,123 shares of common stock of Pandion were validly tendered, representing approximately 88.6% percent of the outstanding common stock of Pandion.

Following the finalization of the tender offer, Merck completed the acquisition of Pandion through a merger of the company's subsidiary with and into Pandion in which all shares not tendered into the offer were cancelled and converted into the right to receive cash equal to the $60 offer price per share.