Merck KGaA to Acquire Bio-Techne in US$11.3 Billion Deal

Merck KGaA (ETR:MRK,OTCPL:MKGAF) has agreed to acquire life sciences supplier Bio-Techne (NASDAQ:TECH) for US$11.3 billion in cash, marking the firm’s largest transaction in a decade.

Under a definitive agreement announced on Thursday (June 25), Merck KGaA will pay US$73 per share, representing a 36 percent premium over Bio-Techne’s one month volume-weighted average trading price.

The acquisition is the first major move by Merck KGaA's new CEO, Kai Beckmann, who assumed leadership in May.

Bio-Techne is a key supplier within the global pharmaceutical supply chain, manufacturing research reagents, proteins, antibodies and analytical instruments used for drug discovery and cell and gene therapy development.

The company employs more than 3,000 people globally and generated over US$1.2 billion in net sales in 2025.

“Bio-Techne is an outstanding fit that directly supports our strategic direction focused on delivering cutting-edge products and solutions across the entire industry value chain — from lab customers to those manufacturing in the biotech and pharmaceutical industries,” said Beckmann, who is also chair of Merck KGaA's executive board.

For Merck KGaA, the acquisition targets high-growth segments such as multi-omics, spatial biology and precision diagnostics. It will also add Bio-Techne’s ProteinSimple line of automated protein analysis instruments to Merck KGaA's portfolio, alongside a massive catalog of 6,000 proteins and 425,000 antibodies.

Furthermore, the acquisition allows Merck KGaA to secure Bio-Techne’s 19.9 percent stake in Wilson Wolf, a leading manufacturer of cell culture devices. Under an existing forward contract, Bio-Techne is scheduled to acquire the remaining ownership of Wilson Wolf immediately following the end of 2027.

The Bio-Techne transaction is Merck KGaA's largest since its US$17 billion purchase of Sigma-Aldrich in 2015.

Over the past several years, the firm has executed a string of targeted buyouts, including semiconductor materials supplier Versum Materials in 2019 and rare disease specialist SpringWorks Therapeutics in 2025.

This latest transaction has been approved by the boards of both companies and is expected to close in late 2026 or early 2027, pending regulatory clearances and approval by Bio-Techne shareholders.

Shares of Minneapolis-based Bio-Techne surged 20 percent in US pre-market trading on the news.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.