MediChem CEO Mike Flavin prefers to call it a merger. With the estimated 29 percent premium DeCode Genetics paid in its $84 million acquisition of MediChem, Flavin can pretty much call it whatever he wants.

The first whispers of an acquisition came last November, after many discussions about how the two companies could best work together, Flavin says. “The most optimal way for us to proceed was to come together. We really wanted to effect this one-plus-one-equals five equation.”

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