Terns Pharmaceuticals Investor Alert: Kahn Swick & Foti Investigates Proposed Sale

Law firm examines adequacy of price and process in Merck's acquisition of Terns Pharmaceuticals

Apr. 10, 2026 at 7:40pm

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A high-end, photorealistic studio still-life photograph featuring a stack of pharmaceutical pill bottles in shades of blue and green, arranged elegantly on a clean, white seamless background. The bottles are made from polished glass and metal, using sharp, dramatic studio lighting and deep shadows to represent the abstract concepts of corporate strategy, finance, and risk in the pharmaceutical industry.A proposed acquisition of Terns Pharmaceuticals by Merck raises questions about the fairness of the deal for shareholders.New Orleans Today

Kahn Swick & Foti, LLC, a law firm led by former Louisiana Attorney General Charles C. Foti, Jr., is investigating the proposed $53 per share cash acquisition of Terns Pharmaceuticals, Inc. by Merck. The firm is seeking to determine if the consideration and the process that led to the deal are adequate, or if the price undervalues the company.

Why it matters

The investigation by Kahn Swick & Foti could lead to legal action if they determine the proposed sale price and process are not in the best interests of Terns Pharmaceuticals shareholders. This type of shareholder lawsuit is common when a public company is acquired, as investors seek to ensure they receive fair value for their shares.

The details

Under the terms of the proposed transaction, shareholders of Terns Pharmaceuticals will receive $53.00 in cash for each share they own. Kahn Swick & Foti is examining whether this consideration adequately values the company, or if the price undervalues Terns. The law firm is also looking into the process that led to the deal being struck between Terns and Merck.

  • The proposed acquisition is structured as a tender offer, meaning shareholders have a limited time to decide whether to tender their shares.

The players

Kahn Swick & Foti, LLC

A law firm led by former Louisiana Attorney General Charles C. Foti, Jr. that specializes in shareholder litigation and class actions.

Terns Pharmaceuticals, Inc.

A biopharmaceutical company focused on developing and commercializing innovative therapies for metabolic and cardio-metabolic diseases.

Merck

A global healthcare company that develops and produces prescription medicines, vaccines, biologic therapies and animal health products.

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What they’re saying

“If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn toll free at any time.”

— Lewis S. Kahn, Managing Partner, Kahn Swick & Foti, LLC

What’s next

The investigation by Kahn Swick & Foti is ongoing, and the firm is encouraging Terns Pharmaceuticals shareholders to contact them to discuss their legal rights regarding the proposed sale.

The takeaway

This is a common scenario when a public company is acquired, as shareholders often seek to ensure they receive fair value for their shares. The investigation by Kahn Swick & Foti could lead to legal action if they determine the proposed sale price and process are not in the best interests of Terns Pharmaceuticals investors.