Key Takeaways Merck is looking to acquire Terns for $53 per share, valuing the deal at almost $6.7B equity.Terns TERN-701, a leukemia drug candidate, showed strong early clinical response rates in studies.Merck is ramping up merger and acquisition deals in recent times to offset Keytruda's 2028 patent loss.Merck (MRK) announced that it has entered into a definitive agreement to acquire California-based cancer biotech, Terns Pharmaceuticals (TERN) , for $53.00 per share in cash or an estimated equity value o ...