Terns Pharma jumps after report Merck nears $6 bln takeover

Shares of biotech firm Terns Pharma TERN.O up 12.5% at $56.2 premarket

Financial Times reports, citing people familiar with the matter, that drugmaker Merck MRK.N is nearing a roughly $6 bln all-cash deal to acquire TERN

Negotiations between the companies are said to be in advanced stages, with an agreement potentially expected within the next few days - report says

Merck and Terns Pharma did not immediately respond to Reuters requests for comment

MRK shares edge 0.3% higher in light volumes

Potential acquisition comes as MRK continues to reshape its oncology strategy

As of last close, TERN stock up 23.7% YTD, following a more than sevenfold rise in 2025