Merck KGaA, Darmstadt, Germany, Agrees to Acquire Bio-Techne, Strengthening Leadership Position in Fast-Growing Life Sciences Markets

Key Points:

• Merck KGaA, Darmstadt, Germany, has agreed to acquire U.S.-based Bio-Techne Corporation for US$73 per share in cash, valuing the transaction at approximately US$11.3 billion (EUR 9.9 billion), representing a 36% premium to Bio-Techne's recent trading price.
• The acquisition is expected to be immediately accretive to sales growth and EBITDA pre margin post-closing, with earnings per share projected to be accretive by year three; annual cost synergies of around EUR 140 million are anticipated to be fully realized by the third year after closing.
• Bio-Techne will enhance Merck’s portfolio with its industry-leading multi-omics offerings, analytical technologies, and integrated workflow solutions, particularly strengthening capabilities in spatial biology, cell and gene therapy, precision diagnostics, and advanced therapeutics.
• The combined entity aims to expand Merck's presence in high-growth life sciences markets, broaden offerings across research, bioprocessing, and advanced therapeutics, and accelerate innovation pipelines while enhancing Bio-Techne's global reach and customer access.
• The transaction, subject to customary closing conditions and regulatory approvals, is expected to close by late 2026 or early 2027 and will be financed through a combination of cash on hand and new debt, with Merck maintaining a strong investment-grade credit rating.