Merck KGaA has not made a life sciences acquisition this large in more than a decade. Now its new CEO is placing a big bet on the same business that his predecessor made the company's top priority. The $11.3 billion price tag shows Merck is willing to pay a premium to get the tools it needs for advanced biological research.
Merck KGaA will pay $73 per share of Bio-Techne. Investors liked the news.
Bio-Techne's stock jumped 20% in premarket trading. Merck KGaA's own shares rose 3% as well.
Bio-Techne makes research tools and materials. Jean-Charles Wirth, who leads Merck KGaA's life sciences division, said the broader catalog provides a "big, big plus" to customers.
Merck KGaA believes its life sciences division will be the main engine of future expansion. The deal expands Merck's footprint in advanced biological research, cell therapy, and gene therapy. Bio-Techne's products fit right into that plan.
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The acquisition is the first major move by Kai Beckmann, who became CEO of Merck KGaA in May 2026. He took over from Belén Garijo. Garijo had made life sciences a priority and last year said the company had "appetite for M&A" with a priority on life science.
To advance its capabilities in mRNA production, cell and gene therapy, and treatments for rare diseases, Merck executed several deals under Garijo, such as acquiring Exelead, Mirus Bio, and SpringWorks Therapeutics. Beckmann is now putting that appetite to work.
Analyst Puneet Souda of Leerink noted in a research report that the acquisition looks "like an attractive asset with strong long term potential" and a strategic fit. He and other analysts do not expect significant regulatory hurdles.
Merck KGaA had about 2.74 billion euros ($3.11 billion) in cash and cash equivalents as of its latest quarterly results. The company will also use debt to pay for Bio-Techne.
Following the deal's completion, Merck anticipates achieving roughly 140 million euros in cost savings within three years.
Merck KGaA's largest prior life sciences acquisition was the 2014 purchase of Sigma-Aldrich, a move that bolstered its research tools operations and expanded its reach outside of pharmaceuticals. The addition of Bio-Techne's specialized assay kits and reagents is expected to further deepen Merck's offering in high-growth areas such as cell and gene therapy, complementing earlier purchases like Exelead and Mirus Bio.
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