Merck to Acquire Inspire Pharmaceuticals, Inc. for $5.00 per Share Totaling $430M

Merck MRK, known as MSD outside the United States and Canada, and Inspire Pharmaceuticals, Inc. ISPH today announced that they have entered into a definitive agreement under which Merck will acquire Inspire, a specialty pharmaceutical company focused on developing and commercializing ophthalmic products. Under the terms of the agreement, Merck, through a subsidiary, will commence a tender offer for all outstanding common stock of Inspire at a price of $5.00 per share in cash, a 26 percent premium to the closing price of Inspire's common stock on April 4, 2011. The transaction has a total cash value of approximately $430 million