Mereo BioPharma (MREO) Up as AstraZeneca Reportedly Eyes Buyout https://www.zacks.com/stock/news/1941204/mereo-biopharma-mreo-up-as-astrazeneca-reportedly-eyes-buyout?cid=CS-ZC-FT-analyst_blog|company_news_-_medical_sector-1941204 Shares of small-biotech Mereo BioPharma (MREO Quick QuoteMREO - Free Report) surged 62.5% on Jun 17, following a report issued by the Times, which stated that AstraZeneca (AZN Quick QuoteAZN - Free Report) is interested in acquiring the company. Mereo BioPharma is a U.K.-based pharmaceutical company focused on developing therapies targeting cancer and rare diseases. Per the article, Mereo is in discussions with AstraZeneca to accept the bid at $5 per share, amounting to a total purchase price of nearly $500 million. In the year so far, shares of Mereo have fallen 18.8% compared with the industry’s decline of 28.1%.