Merck's $9.5bn Cubist buy overshadowed by court decision

Merck & Co has agreed to acquire antibiotics specialist Cubist Pharmaceuticals in a cash deal worth about $9.5bn. Merck will pay $8.4bn in cash for Cubist's stock at $102 per share (a 35% premium to the company's average stock price over the previous five days), and the deal includes $1.1bn in net debt.