Market Chatter: Merck Selling Bonds to Help Fund Verona Acquisition

MT Newswires Live09-02

Merck (MRK) is selling investment-grade bonds Tuesday to help finance its $10 billion acquisition of Verona Pharma (VRNA), Bloomberg reported, citing a person familiar with the matter.

The company is marketing the sale in as many as six portions, including a 30-year bond, and the initial discussions for that security indicate a yield about 1 percentage point above similarly dated Treasuries, the report said.

Merck didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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