Merck Buys Peloton Therapeutics For $1.05B Ahead Of IPO

Law360 (May 21, 2019, 12:52 PM EDT) -- Merck said Tuesday it has agreed to snap up Peloton Therapeutics in a deal steered by Covington & Burling and Wilson Sonsini that could be worth a total of $2.2 billion — the day before the privately held biopharmaceutical company was set to price its initial public offering.

In the companies’ joint statement, privately held Peloton and New Jersey-based Merck & Co. said the pharmaceutical giant will buy all of Dallas-based Peloton’s outstanding shares through a subsidiary for $1.05 billion in cash up front. Another $1.15 billion could be paid to Peloton shareholders if certain regulatory and sales goals are met,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!