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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of ArQule, Inc. (“ArQule” or the “Company”) (NASDAQ: ARQL) to Merck & Co., Inc. (“Merck”) (NYSE: MRK). Under the terms of the transaction, ArQule shareholders will receive $20 per share in cash.
The ArQule merger investigation concerns whether the Board of ArQule breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Merck is underpaying for ArQule shares, thus unlawfully harming ArQule shareholders.
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