Story perspectives

Merck KGaA to Acquire Bio-Techne for $11.3 B

6/26/2026

Summary

Merck Acquires Bio-Techne

Merck KGaA will acquire Bio-Techne for $73 per share in cash, a 36% premium to the one-month VWAP and valuing the deal at $11.3 billion.
Closing is expected in late 2026 or early 2027, subject to shareholder and regulator approval.
Merck will fund the deal with cash and new debt, preserving its investment-grade rating and targeting €140 million annual cost synergies by year three.
Bio-Techne shares rose about 19.8% to $70.53.

Summary

Merck Gains Bio-Techne

Merck CEO Kai Beckmann says the acquisition moves the group from chemicals to high-margin life-science platforms.
The deal gives Merck a foothold in fast-growing spatial biology and multi-omics markets essential for cell-and-gene-therapy pipelines.
Activist investor Ananym Capital Management urged Bio-Techne’s board to consider a sale to achieve scale and lower sales costs.
Bio-Techne, with 3,000 employees in Minneapolis, becomes one of Minnesota’s largest foreign acquisitions and expands Merck’s U.S. footprint.

History

Historical Context

In 1976, biotech pioneer Genentech was founded, and after Roche took a majority stake in 1990 it completed a $46.8 billion full acquisition in March 2009, giving the Swiss group a strong U.S. biotech platform. Following that model, Merck KGaA announced an $11.3 billion purchase of Bio-Techne in 2024, extending European firms’ debt-backed push into American spatial-biology and cell-therapy markets.

1 of 3

Merck Acquires Bio-Techne

Merck KGaA will acquire Bio-Techne for $73 per share in cash, a 36% premium to the one-month VWAP and valuing the deal at $11.3 billion.
Closing is expected in late 2026 or early 2027, subject to shareholder and regulator approval.
Merck will fund the deal with cash and new debt, preserving its investment-grade rating and targeting €140 million annual cost synergies by year three.
Bio-Techne shares rose about 19.8% to $70.53.

1 / 3