Core Thesis - The bullish thesis on Merus N.V. (MRUS) is supported by Genmab's acquisition of the company for $97 per share, which has been positively received by the market, indicating confidence in the deal despite its size [2][4] Acquisition Details - Genmab's acquisition price of $97 per share reflects a 2.2% absolute or 11.1% annualized spread, which is considered unusually high for a transaction of this quality, suggesting market caution due to current conditions rather than specific deal risks [3] - The merger is expected to close around late Q4 or early Q1, with no significant antitrust or regulatory hurdles anticipated beyond potential timing delays [4] Market Sentiment - The market reaction to the acquisition has been favorable, indicating a strategic acquisition by Genmab with minimal deal risk, positioning it as an attractive event-driven opportunity in the biotech sector [4] - There is a noted trend of investors focusing on fast-moving stocks like Palantir instead of merger arbitrage, reflecting current market sentiment [3] Hedge Fund Interest - Merus N.V. is not among the 30 most popular stocks among hedge funds, with 58 hedge fund portfolios holding MRUS at the end of Q2, an increase from 53 in the previous quarter [6]