India, June 25 -- Bio-Techne Corp. (TECH), a commercial-stage biotechnology company headquartered in Minnesota, Thursday announced a definitive agreement to be acquired by Darmstadt, Germany-based Merck KGaA (MKKGY) for $73 per share in cash, representing an enterprise value of $11.3 billion or EUR 9.9 billion.
The acquisition price represents a 36% premium to Bio-Techne's one-month volume-weighted average trading price. The companies anticipate that the acquisition will broaden product offerings, improve Merck's pipeline capabilities, and extend Bio-Techne's geographic reach and omnichannel customer access.
Merck plans to fund the acquisition through a combination of cash on hand and proceeds from new debt. The company expects to realize...