The High Court of Justice of England and Wales has today approved the scheme of arrangement that will allow MSD (Merck) to acquire Verona Pharma plc. The court order sanctions the transaction, making the acquisition official and allowing the scheme to become effective once the order is delivered to the Registrar of Companies.
The deal values Verona at $107 per American Depository Share (ADS), with each ADS representing eight ordinary shares. The transaction is valued at approximately $10 billion, giving Merck full control of Verona’s COPD portfolio, including the Ohtuvayre product line.
Closing of the transaction will occur when the court order is delivered to the Registrar, expected on 7 October 2025. The last day of trading Verona ADSs on Nasdaq is expected to be 6 October 2025, with trading halted before the opening on 7 October 2025 to accommodate the scheme’s implementation.
This court approval finalizes the Merck acquisition, providing Verona shareholders with the agreed consideration and giving Merck a strategic entry into the respiratory market. The transaction represents a transformational event for both companies, consolidating Verona’s commercial platform under Merck’s global reach.
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