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Terns Pharmaceuticals entered into a definitive Agreement and Plan of Merger on March 24, 2026, with Merck Sharp & Dohme LLC and its subsidiary Thailand Merger Sub, Inc., under which Merck will commence a tender offer to acquire all outstanding shares of Terns common stock at $53.00 per share in cash, valuing the equity at approximately $6.7 billion. The transaction, recommended by Terns' board, includes a subsequent merger and is subject to customary conditions including HSR clearance.
Event Type
Disclosure
Mandatory
Variant
8-K
Entry into a Material Definitive Agreement. On March 24, 2026, Terns Pharmaceuticals, Inc., a Delaware corporation (the “ Company ” or “ Terns ”), entered into
of this report, including Exhibit 99.1 attached hereto, is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 1
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 2.1* Agreement and Plan of Merger, dated as of March 24, 2026, by and among Terns Pha
Material Agreement