Merck to acquire ArQule for $20 per share in cash or about $2.7 billion

Merck & Co. Inc. MRK, -0.44% said Monday it has entered an agreement to acquire ArQule Inc. ARQL, +103.10% for $20 a share in cash or an equity value of about $2.7 billion. The deal is expected to close in the first quarter of 2020 and to boost Merck's oncology pipeline.