On April 2, 2019 Merck (NYSE: MRK), known as MSD outside the United States and Canada, reported the successful completion of the cash tender offer, through a subsidiary, for all of the outstanding shares of common stock of Immune Design (NASDAQ: IMDZ) at a purchase price of $5.85 per share (Press release, Merck & Co, APR 2, 2019, View Source [SID1234534914]). As of the tender offer expiration, 41,970,607 shares of common stock of Immune Design were validly tendered and not withdrawn from the tender offer, representing approximately 86.75 percent of the outstanding common stock of Immune Design on a fully diluted basis. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for such shares.

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Merck expects to complete the acquisition of Immune Design today through a merger of Merck’s wholly-owned subsidiary with and into Immune Design in which all shares not tendered into the offer will be canceled and converted into the right to receive cash equal to the $5.85 offer price per share without interest, less any applicable withholding taxes. Upon completion of the merger, Immune Design will become a wholly-owned subsidiary of Merck and the common stock of Immune Design will cease to be traded on the NASDAQ Stock Market.