Merck shares dip amid market downturn as it offers $53/share to acquire Terns Pharmaceuticals.

Merck & Co. shares fell 3.12% to $117.08 amid a broader market decline, as the company launched a $53 per share cash tender offer to acquire Terns Pharmaceuticals. The offer expires May 4, 2026, pending shareholder and regulatory approval. Despite sector weakness, Merck's acquisition aims to boost growth, supported by strong momentum and a solid immuno-oncology platform. Analysts maintain a Buy rating with price targets around $122-$142, awaiting Merck's earnings update on April 30, 2026.