Germany’s Merck to Buy Bio-Techne for $11.3 Billion
The all-cash deal gives Merck KGaA several new spatial technologies, including Lunaphore, along with Bio-Techne's antibody portfolio and other tools.
German science and technology company Merck KGaA said on June 25 it has entered into a definitive agreement to acquire Minneapolis-based Bio-Techne for $73 per share in cash, or approximately $11.3 billion.
“This transaction is an important milestone towards delivering on our mid- to long-term strategic agenda,” Kai Beckmann, Merck KgaA CEO, said in a statement. “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.”
The deal would bring Merck a technology portfolio including proteins and immunoassay kits, as well as the Lunaphore spatial proteomics platform.
“In addition, Bio-Techne’s RNAscope and related in situ hybridization technologies would strengthen the capabilities of Merck in spatial biology and diagnostics,” the companies said in a statement.
Bio-Techne employs more than 3,000 people, approximately 2,300 of them in the US, and operates 34 global locations and 15 manufacturing facilities across North America, Europe, and China. The company reported revenue of more than US$1.22 billion in its fiscal year ended June 30, 2025.
Bio-Techne also holds a stake in Wilson Wolf Corporation, a manufacturer of cell culture devices. Bio-Techne expects to acquire the remaining ownership in Wilson Wolf immediately following the end of calendar year 2027.
The acquisition, which has been approved by Bio-Techne’s board of directors, is expected to close by late 2026 or early 2027, subject to regulatory approvals and Bio-Techne shareholder approval. The acquisition will be funded through a combination of existing cash and new debt, with Merck KGaA stating it intends to preserve its credit rating.
The offer represents a 36 percent premium to Bio-Techne’s share price.
Guggenheim Securities and JP Morgan are acting as financial advisors to Merck KGaA, with Sullivan & Cromwell serving as legal counsel. Goldman Sachs is acting as exclusive financial advisor to Bio-Techne, with Sidley Austin acting as legal counsel.