Merck KGaA, Darmstadt, Germany has entered into a definitive agreement pursuant to which Merck KGaA, Darmstadt, Germany, will, subject to customary closing conditions, acquire Bio-Techne for USD 73 per share in cash, representing a total enterprise value of approximately USD 11.3 billion (EUR 9.9 billion), a 36 percent premium to Bio-Techne's 1-month volume weighted average trading price.

The transaction would bring together 2 complementary and leading life sciences organisations, uniquely positioned to support customers across the full spectrum of life science workflows–from discovery and translational research through development, testing and commercial manufacturing. Additionally, it would directly deliver on the mid- to long-term strategic agenda of Merck KGaA, Darmstadt, Germany, which focuses on high-growth value drivers, integrated workflows, platformed capabilities and scaling and sourcing innovation through Mergers and Acquisitions (M&As).

Kai Beckmann, Chairman, Executive Board and Group CEO, Merck KGaA, Darmstadt, Germany, said, "This transaction is an important milestone toward 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. By combining Bio-Techne's scientific depth, innovation engine and differentiated portfolio with the global scale, manufacturing excellence and customer reach of Merck KGaA, Darmstadt, Germany, we are in a strong position to address some of the most important opportunities in life sciences and support our customers in accelerating the next generation of scientific discovery and therapeutic innovation. This positions us to deliver compelling strategic and financial benefits for shareholders, customers and employees."