Merck KGaA to acquire Bio-Techne for $11.3 Billion in major life sciences deal

Acquisition strengthens Merck's life sciences portfolio, expands capabilities across research and biopharma manufacturing

Merck KGaA has agreed to acquire US-based life sciences company Bio-Techne Corporation for $11.3 billion, marking one of the pharmaceutical industry's largest acquisitions this year and the company's biggest takeover since its $17 billion acquisition of Sigma-Aldrich in 2015.

Under the agreement, Merck will pay $73 per share in cash, representing a 36% premium to Bio-Techne's one-month volume-weighted average share price and a 25% premium to its closing price of $58.88 on June 24.

Headquartered in the US, Bio-Techne develops and manufactures life sciences reagents, analytical instruments, clinical diagnostics, proteins, antibodies, and small molecules used in drug discovery and development. The company operates 34 sites worldwide, employs around 3,100 people, and reported more than $1.2 billion in net sales in fiscal year 2025.

Merck said the acquisition will strengthen its ability to support customers across the biopharmaceutical value chain—from early-stage research and translational science to development, testing, and commercial manufacturing. The deal also expands Merck's portfolio with Bio-Techne's expertise in cytokines, growth factors, antibodies, and immunoassay kits.

The acquisition is the first major transaction under CEO Kai Beckmann, who assumed leadership in September 2025. Beckmann has previously indicated that mergers and acquisitions would be central to strengthening the company's product pipeline and long-term growth strategy.

Commenting on the acquisition, Kai Beckmann said, "This transaction is an important milestone towards delivering on our mid- to long-term strategic agenda. 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."