Revolution’s shares dip with report of Merck walking away: Deals Report

Shares of Revolution Medicines sank 17% on Monday after a Wall Street Journal report said Merck had pulled away from discussions about an acquisition, citing the takeout price — in the $30 billion range — as the sticking point.

Revolution Medicines Inc. (NASDAQ:RVMD) had gained market value early this month after reports suggested the company was a buyout target. Although AbbVie Inc. (NYSE:ABBV) reportedly lost interest ahead of the J.P. Morgan Healthcare Conference, Merck & Co. Inc. (NYSE:MRK) was said to be in continuing negotiations for Revolution, whose lead program is in testing for pancreatic cancer...