DARMSTADT, Germany & MINNEAPOLIS, June 25, 2026
Merck KGaA, Darmstadt, Germany has signed a definitive agreement to acquire Bio-Techne Corporation in an all-cash transaction valued at approximately US$11.3 billion (EUR 9.9 billion), marking one of the largest life sciences acquisitions of the year. The transaction, priced at US$73 per share, represents a 36% premium to Bio-Techne’s one-month volume-weighted average share price and significantly strengthens Merck KGaA’s leadership across life science research, bioprocessing, analytical technologies, precision diagnostics, multi-omics, and advanced therapeutics. The acquisition aligns with the company’s long-term strategy to expand its capabilities across the complete scientific workflow—from early-stage discovery and translational research to biopharmaceutical manufacturing and commercial production. If completed, the combination will create one of the industry’s most comprehensive life science technology platforms while accelerating innovation for biotechnology, pharmaceutical, and academic research customers worldwide.
Strategic Acquisition Expands Leadership in High-Growth Life Sciences
The acquisition brings together two highly complementary organizations with strong expertise in research reagents, protein analysis, spatial biology, precision diagnostics, cell and gene therapy technologies, and bioprocess solutions. Bio-Techne, headquartered in Minneapolis, has built a global reputation through its portfolio of recombinant proteins, antibodies, cytokines, immunoassays, ProteinSimple analytical instruments, RNAscope spatial biology technologies, and advanced cell therapy solutions. By integrating these capabilities with Merck KGaA’s global Life Science business, the combined organization will significantly strengthen scientific workflows supporting drug discovery, biologics development, advanced therapeutics, and commercial biomanufacturing.
The acquisition also expands Merck KGaA’s presence in rapidly growing markets such as multi-omics, precision medicine, spatial biology, and cell and gene therapy, positioning the company to meet increasing customer demand for integrated life science solutions.
Innovation Synergies to Accelerate Scientific Discovery
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The proposed combination is expected to generate substantial operational and scientific benefits by combining Bio-Techne’s innovation engine with Merck KGaA’s manufacturing excellence, global commercial infrastructure, and research capabilities. The company expects approximately EUR 140 million in annual cost synergies, which are anticipated to be fully realized by the third year following transaction completion. Beyond financial efficiencies, the merger will create broader product portfolios and integrated workflow solutions that enable researchers to accelerate therapeutic development across multiple scientific disciplines.
Bio-Techne’s strong position in protein sciences, spatial transcriptomics, analytical technologies, and cell therapy manufacturing will further enhance Merck KGaA’s Discovery Solutions, Advanced Solutions, and Process Solutions businesses. Together, the organizations will support increasingly complex research, clinical development, and biopharmaceutical manufacturing requirements while delivering expanded innovation opportunities for customers worldwide.
Transaction Supports Long-Term Growth Strategy
Under the agreement, Bio-Techne shareholders will receive US$73 per share in cash, with the acquisition expected to close in late 2026 or early 2027, subject to shareholder approval, regulatory clearances, and customary closing conditions. The transaction will be financed through a combination of existing cash reserves and new debt financing, while Merck KGaA expects to maintain its investment-grade credit rating. The acquisition is projected to be immediately accretive to sales growth and EBITDA margins after closing, with earnings per share expected to become accretive by the third year.
Merck KGaA also plans to preserve Bio-Techne’s scientific expertise while expanding global collaboration opportunities across North America, Europe, and Asia-Pacific. With more than 500,000 life science products, operations spanning 34 global locations, and customers across the biotechnology, pharmaceutical, diagnostics, and academic sectors, the combined organization will be well positioned to accelerate next-generation scientific discovery and strengthen the global life sciences ecosystem through expanded innovation, advanced manufacturing capabilities, and integrated technology platforms.
Source: Merck, Bio-Techne press release
