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Acceleron Pharma Inc. (XLRN)
NasdaqGM - NasdaqGM Real-time price. Currency in USD
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The tender will expire in less than 3 hours. MRK will decide to honor its tender by paying shareholders who tendered. For the rest of the shares and shareholders who didn't tender, the picture is not clear and they may wait a long time to get the same price. I think some investors sell their shares in free-market at lower prices since the volume is shrinking.
The waiting period was completed. Is MRK buying shares now?
“Merck Completes Tender Offer to Acquire Acceleron Pharma Inc.
11/19/21, 6:06 PM
KENILWORTH, N.J.--(BUSINESS WIRE)-- Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the successful completion of the cash tender offer, through a subsidiary, Astros Merger Sub, Inc., for all of the outstanding shares of common stock of Acceleron Pharma Inc. (Nasdaq: XLRN), at a purchase price of $180 per share in cash, without interest and less applicable tax withholding. As of the tender offer expiration at 5:00 p.m., Eastern Time, on Nov. 19, 2021, 38,752,614 shares of common stock of Acceleron were validly tendered and not withdrawn from the tender offer, representing approximately 63.3% of the total number of Acceleron’s outstanding shares. All such shares have been accepted for payment in accordance with the terms of the tender offer, and Astros Merger Sub, Inc. expects to promptly pay for such shares.
Merck intends to complete the acquisition of Acceleron through a merger of Astros Merger Sub, Inc. with and into Acceleron, with Acceleron being the surviving corporation, in which all shares not tendered into the offer will be cancelled and converted into the right to receive cash equal to the $180 offer price per share, without interest and less any applicable tax withholding. After the completion of the merger, Acceleron will become a wholly owned subsidiary of Merck and the common stock of Acceleron will no longer be listed or traded on the Nasdaq Global Market.”
I plan to tender my shares for $180/share.
There is a lot of noise by some funds without any logic and the following is my reasoning:
1- Some funds complain about $180 being low. Why don't they buy shares hand over fist? Obviously, they are not buying but complain even when the price is over 3% to 4% below $180. They don't make sense.
2- I don't see any other company stepping in and bidding higher for XLRN.
3- BMY sees it as a fair price and it is going to tender ints share (11.5%).
4- All the insiders are tendering.
5- XLRN employees and BOD are happy with the price they're taking since MRK is taking a lot of risks.
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I think a few funds are trying hard to steal XLRN shares from naive retails.
So, the tender is extended to Nov 18 and MRK will file a new date today based on the media report.
Including today and Nov 18, it is 14 trading days. How many discounted shares can third parties accumulate and then sell them to MRK at $180 and who is willing to sell those shares? About 13% already tendered, adding BMY to them, it is about 24% of shares. Most investors wait until to the last minute and I'm one of them before tendering my shares.
Nov 18 is the cutoff day for the current MRK tender and most brokerage don't accept tender offer.
So, the days to tender for XLRN shares are Monday to Wednesday next week. If the tender is extended it should've been announced last week. However, there is a slim chance that MRK may decide to extend the tender by Monday. If so, we will now early Monday morning since there is not much time left.
one day extension. appears in bag and tom. is IT.
If Merck doesn't extend the closing date, it means they think they have enough vote
Why wouldn't we want them not to tender shares to merck, honestly who feeds these guys information? Thanks to this merck deal it went up $50 and plus merck gives dividend. That's a 30% increase more than I could have asked for. I don't know what these greedy idiots complaining about, you have my vote complete the deal!
Merck Launches Tender Offer to Buy Acceleron Pharma at $180 Per Share
BY M-T N-e-w-s-w-i-r-e-s
Merck ( MRK) said Tuesday it is launching a cash tender offer to buy all of Acceleron Pharma's ( XLRN) common shares.
Once the tender offer is completed, stockholders of Acceleron will receive $180 in cash for each Acceleron validly tendered and not validly withdrawn in the offer.
The deal is expected to close in Q4. Upon closing, Acceleron will become a subsidiary of Merck ( MRK).
The tender offer will expire at 5:00 p.m. ET on Nov. 10, according to a statement.
(B-l-o-o-m-b-e-r-g) ---- Bristol-Myers Squibb Co. is planning to tender its shares in Acceleron Pharma Inc. after Merck & Co. agreed to buy the biotechnology company for $11.5 billion, according to people with knowledge of the matter.
BMY and insiders alone hold over 23% of XLRN shares. Over 50% of shares should easily be tendered! 1 1/2 mil shares short still working so hard to get your shares. Not much time left and difficult with this low vol!
you're either gonna get 180 dollars or more. Unlikely this falls through since both parties want this. A couple of funds think its too low but they only hold less than 10 percent of the shares and all they need is 50 percent plus a share so this is easy money IMO
$tbph 35% drop yest was def overdone & is clear buying opportunity. So one drug failed, but its royalties from two COPD drugs alone value its stock at $11. Plus add ampreloxetine potential. Price target was cut by 21% which is accurate so the 35% drop puts it at 14% undervalued. After the 21% cut, price target now $29 which is still a 213% upside.
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It's a crazy market if XLRN does not jump close to $180 soon. Where do you find a solid return these days? The market is probably heading south buy XLRN is giving you a 3% return in a short time, probably less than 2 months which is analyzed to be 18%.
ZACKS RATING READ , STRONG SELLLLLL
Acceleron currently carries a Zacks Rank #4 (Sell). A couple of better-ranked biotech stocks include Alexion Pharmaceuticals ALXN and Clovis Oncology CLVS. Both stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
If Merck is buying this Company at 180 a share why would the stock fall?
2 REITS to buy and hold to make a passive income!
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