A chemical laboratory technician determines the water content of a high-purity solvent for laboratory applications using a titration device in a laboratory of the Darmstadt-based pharmaceutical and technology group Merck KGaA.
Arne Dedert | Picture Alliance | Getty Images
Merck KGaA has agreed to acquire biotech firm Bio-Techne for $11.3 billion, the German science and healthcare firm said in a statement on Thursday.
Shares of Bio-Techne rose 22% in premarket trading.
The offer price of $73 per share implies a 24% premium to Bio-Techne’s close on Wednesday.
The acquisition would expand Merck’s presence in life-science research. Bio-Techne supplies research reagents, proteins, antibodies, analytical instruments and other tools used by scientists and drug developers.
The German firm said it would fund the acquisition through a combination of existing cash and new debt.
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