Merus N.V. Material Event - What Happened

Hey everyone, let's break down some important news about Merus N.V. in a way that makes sense, even if you're not a Wall Street pro. Think of this as me explaining it to you over coffee, focusing on what really matters.

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1. What happened?

Okay, so Merus N.V., a company that makes special medicines, has been acquired by Genmab A/S! This means Genmab, through one of its subsidiaries, has bought almost all of Merus's shares for $97.00 per share in cash. Essentially, Merus is no longer an independent public company; it's now part of the larger Genmab organization.

2. When did it happen?

This news officially came out on December 12, 2025, which is when the acquisition officially closed and the payment for tendered shares was made. The offer to buy shares expired the day before, on December 11, 2025. So, it's fresh off the press!

3. Why did it happen?

Well, back on September 29, 2025, Merus and Genmab (a Danish biotech company) announced they had agreed for Genmab to buy Merus. Genmab likely saw Merus's specialized medicines and drug pipeline as a valuable addition to its own portfolio, especially given Merus's focus on innovative cancer treatments. This acquisition allows Genmab to expand its research and development capabilities and potentially bring Merus's drugs to market faster or more broadly by combining resources.

4. Why does this matter?

This is a massive change for Merus. It's no longer a standalone public company. For shareholders, it means they've received a fixed cash payment for their shares, ending their investment in Merus as an independent entity. For Merus's drug development, it means its projects will now be under Genmab's strategic direction and resources. It's a significant consolidation in the biotech space, with Genmab paying approximately $6.9 billion for Merus.

5. Who is affected?

• Patients: Merus's drug development will continue, but now under Genmab's ownership. The goal remains to bring new treatments to patients, potentially with even more resources.
• Merus Employees: They are now part of the larger Genmab organization. This could mean new opportunities or changes in roles as the companies integrate. Their stock options (Merus Options) were also converted into cash based on the acquisition price.
• Investors/Shareholders: Those who tendered their shares have received $97.00 per share in cash. For those who haven't, there's a "Subsequent Offering Period" to tender their shares. Once the acquisition is fully complete, Merus shares will likely no longer trade publicly.
• Competitors: The competitive landscape shifts as Merus's assets and pipeline are now part of a larger, potentially more formidable, Genmab.
• Healthcare Providers: No immediate direct impact, but they will continue to monitor the progress of Merus's drugs under Genmab's stewardship.

6. What happens next?

Now that the main part of the acquisition is complete, there's a "Subsequent Offering Period" until December 29, 2025, at 5:00 p.m. New York City time. This is a final chance for any remaining shareholders to tender their shares and receive the $97.00 cash payment. After this, Genmab will likely take steps to acquire any remaining shares and fully integrate Merus, leading to Merus's shares being delisted from public exchanges.

7. What should investors/traders know?

• The Deal is Done: The acquisition has closed, and Merus is no longer an independent public company.
• Cash Payment: Shareholders who tendered received $97.00 per share.
• Final Opportunity to Tender: If you still hold Merus shares, you have until December 29, 2025, to tender them in the "Subsequent Offering Period" to receive the cash payment.
• Delisting Expected: Once the acquisition is fully complete, Merus shares will no longer trade on the Nasdaq.
• No More Independent Stock Performance: The stock will no longer react to Merus's individual drug development news or financial results as it's now part of Genmab.

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Hopefully, this helps you understand what's going on with Merus N.V. and why this particular piece of news is important!