BUZZ-Verona hits record high after Merck's $10 billion acquisition

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Delist Pre

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Merck & Co., Inc. MRK	98.27 97.80	-1.98% -0.48% Pre
Verona Pharma plc Sponsored ADR VRNA	106.91 106.91	Delist 0.00% Pre
Dow Jones Industrial Average DJI	48114.26	-0.62%
S&P 500 index SPX	6800.26	-0.24%
NASDAQ IXIC	23111.46	+0.23%

Updates

** U.S.-listed shares of lung therapy firm Verona Pharma VRNA.O I9SAy.F jump 20.7% to all-time high of $104.81

** Verona set of its best day in over 2 years, if gains hold

** Merck MRK.N will buy London-based Verona for about $10 billion

** Merck will pay $107 per American depository share for Verona

** Shares of Merck up 2.5% at $83.40

** The purchase price is a premium of about 23% to Verona ADS' last closing price

** The Financial Times first reported the deal on Wednesday

** Including session moves, Verona up 125.7%, Merck down 16.3% YTD

(Reporting by Christy Santhosh, Siddhi Mahatole and Kamal Choudhury)

((Christy.Santhosh@thomsonreuters.com))

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