Pharma BD Deal Intelligence
Merck's 2003 buy-in of the remaining 49% of Banyu cemented a decades-long Japan foothold, but the entity itself was later dissolved into MSD K.K., leaving no distinct post-deal financial trail to prove the $1.5B price was value-accretive.
Full analysis, sources & comparables →Merck announced a tender offer at 1,400 yen per share to acquire the remaining shares of Banyu Pharmaceutical it did not own, a roughly $1.5 billion move to…
Merck & Co to pay $1.5 billion to take full control of Banyu, buying out remaining minority shareholders and moving to delist the Japanese subsidiary from the…
Merck completed its tender offer for the remaining shares of Japanese subsidiary Banyu Pharmaceutical, holding in excess of 80% of the Tokyo-based firm; Banyu…
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Merck & Co. launched a tender offer on January 14, 2003 for the remaining 49% of Banyu Pharmaceutical it did not already own, valued at approximately $1.5 billion at 1,400 yen per share. The transaction closed on March 6, 2003, after which Banyu was delisted.
Merck's 2003 buy-in of the remaining 49% of Banyu cemented a decades-long Japan foothold, but the entity itself was later dissolved into MSD K.K., leaving no distinct post-deal financial trail to prove the $1.5B price was value-accretive.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Merck & Co. Inc. / Banyu Pharmaceutical Co. Ltd. (this deal) | 2003 | $1.5B | 65 |
| Merck & Co. Inc. / Acceleron Pharma Inc. | 2021 | $11.5B | 90 |
| Merck & Co. Inc. / Peloton Therapeutics Inc. | 2019 | $2.2B | 88 |
| Merck & Co. Inc. / AstraZeneca PLC | 2017 | $8.5B | 87 |
| Merck & Co. Inc. / Moderna, Inc. | 2022 | $250M | 86 |
| Merck & Co. Inc. / Moderna, Inc. | 2016 | $250M | 84 |
| Merck & Co. Inc. / Eisai Co., Ltd. | 2018 | $5.8B | 83 |
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