Merck corporate event
Moscow Exchange reports a possible spin-off of the Merck & Co’s (MRK-RM, ISIN US58933Y1055) Organon into separate Organon & Co. (Organon), as well as the proposed distribution of Organon’s common stock to Merck & Co stockholders. The stock distribution ratio is expected to be one tenth of Organon's common stock per Merck’s ordinary share.
Organon will not issue fractional shares of its common stock in the distribution. Holders of Merck ordinary shares will receive instead the cash in lieu of any fractional shares of Organon common stock. The spin-off of Organon is expected to be completed on 2 June 2021.
The date NSD will record the Merck & Co shareholders for the spin-off is 4 June 2021. We recommend that you be guided by the information on the parameters of corporate action with the issuer's securities provided by NSD.