Power Alley: Now Nearly Certain That Acceleron Will Be Owned By Merck -- As BMS (Via Celgene) Will Tender Its Shares Into Merck's Offer...

It is still possible that Avoro's efforts will encourage a competing third party street sweep -- but the odds are now firmly against that outcome.

After all, now a solid and huge block (via BMS's prior acquisition of Celgene, which held these Acceleron shares) is going to be tendered in to Merck's offer. Here's the latest, from EndPoints News:

. . .Just as Avoro Capital’s campaign to derail Merck’s proposed $11.5 billion buyout of Acceleron gains steam, Bristol Myers Squibb is leaning in with some hefty counterweight.

The pharma giant is planning to tender its Acceleron shares, Bloomberg reported, which add up to a sizable 11.5% stake. Based on the offer price, the sale would net Bristol Myers around $1.3 billion.

To complete its deal, Merck needs a majority of shareholders to agree to sell their shares. . . .

I think they will get it. Onward, grinning. . . .

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