BUZZ-Bio-Techne soars on $11.3 billion buyout deal from Merck

Bio-Techne Corporation
Merck & Co., Inc.

Bio-Techne Corporation

TECH

0.00

Merck & Co., Inc.

MRK

0.00

Updates

** Shares of life sciences firm Bio-Techne TECH.O rise 19.2% to $70.20

** Merck KGaA MRCG.DE says it will buy Bio-Techne for $73 per share in cash, representing a total enterprise value of about $11.3 billion

** The offer price represents a 24% premium to TECH's last close

** Merck says the acquisition will be funded through a combination of existing cash and proceeds from new debt

** "We're not surprised by the strategic interest and consider the combination a solid fit," RBC Capital Markets says

** Including session's move, TECH up 19.4% YTD


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