Merck KGaA entered a definitive agreement to acquire Bio-Techne Corp. for $73 per share in cash. The transaction represents a total enterprise value of approximately $11.3 billion. This price reflects a 36% premium to Bio-Techne's one-month volume-weighted average trading price.
The acquisition expands Merck KGaA's presence in high-growth areas like multi-omics and analytical technologies. Management expects the deal to be immediately accretive to sales growth and EBITDA margins. The company anticipates realizing €140 million in annual cost synergies by the third year after closing.
The boards of both companies have approved the transaction. The deal is expected to close by late 2026 or early 2027. Finalization remains subject to regulatory and shareholder approvals.