Merck KGaA has agreed to buy Bio-Techne for $11.3 billion to acquire consumables and equipment used in activities including the production of advanced therapeutics.
The takeover is Merck KgaA's third-largest acquisition ever and is intended to expand the company into cell therapy production and strengthen its bioprocessing and higher-value reagents, analytics, and cell and gene therapy workflows.
Merck agreed to pay $73 a share for Bio-Techne, a 36% premium over the average trading price across the past month, and expects to realize annual cost synergies of about €140 million within three years of closing the deal.
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