Merck (NYSE: MRK) and Imago BioSciences, Inc. (Nasdaq: IMGO) have announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago for US$36 per share in cash for an approximate total equity value of US$1.35 billion. The transaction is expected to close in the first quarter of 2023.

Latham & Watkins LLP represents Imago BioSciences in the transaction, with a corporate deal team led by Bay Area partners Luke Bergstrom and Benjamin Potter, and Chicago partner Max Schleusener, with Chicago associates Kevin Uhler, Sean Parish, Lucy Chauvin, Brian Baloun, and Chelsea Carlson. Advice was also provided on tax matters by Bay Area partner Katharine Moir with associate Derek Gumm; on healthcare regulatory matters by Washington, D.C. partner Liz Richards with Bay Area counsel Betty Pang; on intellectual property matters by Bay Area partners Jekkie Kim and Judith Hasko with San Diego associate Katherine Parsons-Reponte; on data privacy matters by Bay Area partner Heather Deixler; on antitrust matters by Washington, D.C. partner Mandy Reeves and Bay Area partner Josh Holian; on capital markets matters by Washington, D.C. partners Julia Thompson and Shagufa Hossain, with associates Kaan Ulgen, Gabbi Blum, and Lilian Wang; on benefits matters by Bay Area partner Jay Metz; on trade controls matters by Washington, D.C. associate Eric Green; on FCPA matters by New York partner Matt Salerno; and on government contracts matters by Washington, D.C. partner Dean Baxtresser.