U.S. drugmaker Merck is nearing a deal worth about $10 billion to buy Verona Pharma, a company focused on therapies for lung diseases, the Financial Times reported on Wednesday. Merck will pay $107 per American depository share for Verona,

Fiorentina are set to win the race to sign Inter Milan striker Sebastiano Esposito ahead of Cagliari and Hellas Verona.This according to today’s print edition of Milan-based newspaper Gazzetta

Verona Pharma (NASDAQ: VRNA) jumped over 20% after Merck (NYSE: MRK) announced it was buying the company for $10 billion, or $107 per American Depositary Share (ADS). VRNA stock currently trades at $104.77 per share and is up 484.33% in the past year. Merck wants to reduce its dependence on Keytruda through this acquisition.

Merck said the deal is valued at $107 per ADS, a 23% premium to Verona’s closing price yesterday.

Merck & Co. Inc. (NYSE:MRK) is one of the most undervalued NYSE stocks to buy now. On July 9, Merck announced its acquisition of UK-based Verona Pharma for ~$10 billion.

Merck is nearing a $10 billion deal to buy lung diseases focussed Verona Pharma, as the U.S. drugmaker is eyeing deals to offset the upcoming patent expiry of its blockbuster cancer drug, the Financial Times reported on Wednesday.

Stocks traded higher Wednesday as Wall Street focused on the latest tariff developments from President Donald Trump and minutes from the Federal Reserve’s June meeting signaled year-end rate cuts, though officials were divided over how many.

A Verona man accused of possessing child pornography pleaded guilty to several felonies in Augusta Circuit Court.