04:56 PM EDT, 09/24/2025 (MT Newswires) -- Verona Pharma (VRNA) said Wednesday its shareholders approved Merck's (MRK) proposed $10 billion acquisition of the company for $107 per American depository share, each representing eight ordinary shares.

The transaction, structured as a scheme of arrangement under English law, still requires approval from the High Court of Justice of England and Wales, Verona Pharma said.

The court hearing to sanction the scheme is scheduled for Oct. 6, with the effective date expected to be Oct. 7, the company added.

At the court meeting, 99.49% of scheme shareholders voted in favor of the resolution, while 99.51% of votes at the general meeting supported amendments to the Articles of Association, the company said.

Nasdaq will formally suspend dealings in Verona Pharma's ADSs on Oct. 7, with payments to shareholders expected to be completed by Oct. 14, according to the company.