Verona gets England, Wales high court approval for acquisition by Merck

Verona Pharma (VRNA), which entered into a definitive agreement on July 8 relating to its proposed acquisition by Merck (MRK) through a wholly owned subsidiary or a nominee, announced that the High Court of Justice of England and Wales has approved the proposal for Merck to acquire Verona Pharma for $107 per ADS, each of which represents eight Verona Pharma ordinary shares, for a total transaction value of approximately $10B. Closing of the transaction will occur and the scheme will become effective upon the court order being delivered to the Registrar of Companies, which is expected to occur on October 7, as previously announced.