Merck (NYSE: MRK) on Wednesday announced that its Board of Directors has approved additional purchases of up to $5 billion of Merck's common stock for its treasury. The treasury stock purchase has no time limit and will be made over time on the open market, in block transactions or in privately negotiated transactions.
Johnson & Johnson (NYSE: JNJ) on Wednesday agreed to acquire Synthes, Inc. for CHF159 per share, or $21.3 billion. Upon completion of this transaction, Synthes and the DePuy Companies of Johnson & Johnson together will comprise the largest business within the Medical Devices and Diagnostics segment of Johnson & Johnson.
Telecom firm CenturyLink Inc. (NYSE: CTL) on Wednesday agreed to acquire information-technology company Savvis Inc. (NASDAQ: SVVS) in a cash and stock merger valued at $40 a share, or $2.5 billion, plus debt of around $700 million.
Full Disclosure: None.
