The cash deal values Bio-Techne at $73 per share, triggering a 22% surge in premarket trading for the U.S. life sciences firm.
Merck KGaA agreed to buy U.S.-based life sciences company Bio-Techne in an $11.3 billion all-cash deal, offering $73 per share. The transaction represents a premium to Bio-Techne’s prior closing price and values the company at nearly 20 times its estimated 2024 earnings.
Bio-Techne’s shares jumped over 22% in premarket trading following the announcement. The deal marks one of the largest acquisitions in the life sciences sector this year, reflecting Merck KGaA’s push to expand its diagnostics and research tools portfolio.
No immediate market reaction data for Merck KGaA’s shares was provided in the source.