Enzon executes reverse stock split before merger

Enzon has completed a 1-for-100 reverse stock split in preparation for an upcoming merger. This corporate action consolidates the company's outstanding shares, typically done to increase the per-share trading price and meet exchange listing requirements or make the stock more attractive to investors. The reverse split is a procedural step preceding the merger, indicating that the combination of Enzon with another entity is progressing. Investors will be watching closely to understand the terms of the merger and the implications of the stock consolidation on the company's future valuation and market position.