Merck to Buy Back $5 Billion of Its Shares From Goldman
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Merck & Co., the second-biggest U.S. drugmaker, reached a deal to repurchase $5 billion of its shares from Goldman Sachs Group Inc. as part of a buyback program announced earlier this month.
Merck will make an initial purchase of 99.5 million shares based on current market prices, according to a statement today from the Whitehouse Station, New Jersey-based company. The transaction is expected to be completed by Nov. 25.