Shares of Bio-Techne surged Thursday after Germany's Merck KGaA announced it agreed to purchase the company for $11.3 billion.
Bio-Techne stock jumped 20% to $70.55 on Thursday, placing it near the top of the S&P 500 for the trading session and set to log its best daily percentage gain since May 1, 2003, according to Dow Jones Market Data.
Merck KGaA plans to acquire Bio-Techne for $73 a share, according to the media release, representing a 24% premium based on the stock's closing price from Wednesday. The deal is expected to close later this year or early in 2027.
Merck said the acquisition of Bio-Techne will strengthen its presence in the life sciences market. Bio-Techne provides analytical technologies and life science tools used by researchers and drug manufacturers.
"Building on our strong track record in the life science business, this transaction strengthens our presence in some of the most exciting and fastest-growing areas of the life sciences," said Jean-Charles Wirth, a member of the executive board of Merck KGaA, in the media release.
Write to Kit Norton at kit.norton@barrons.com
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June 25, 2026 15:12 ET (19:12 GMT)
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