Bio-Techne shareholders have approved Merck KGaA, Darmstadt, Germany’s proposed $11.3 billion acquisition of the life-sciences tools company, advancing a deal first announced on June 25.
Under the merger agreement, Bio-Techne shareholders will receive $73 per share in cash. The consideration represents an enterprise value of about $11.3 billion, or €9.9 billion, and a 36% premium to Bio-Techne’s one-month volume-weighted average share price before the transaction announcement.
The acquisition is intended to add Bio-Techne’s portfolio of life-sciences tools, analytical technologies and consumables to Merck’s Life Science business. The companies said the combination will strengthen Merck’s offerings in multi-omics, spatial biology, cell and gene therapy, precision diagnostics, automated protein detection and advanced research tools.
Bio-Techne’s portfolio includes reagents, instruments and analytical technologies used in research, drug development, testing and manufacturing. Its offerings include ProteinSimple automated protein-detection systems and RNAscope in situ hybridization technology, which is used in spatial biology and diagnostic applications.
Merck said it plans to fund the all-cash transaction with existing cash and proceeds from new debt. The company estimates annual cost synergies of about €140 million, with the full benefit expected in the third year after the transaction closes.
The transaction would also include Bio-Techne’s 19.9% interest in Wilson Wolf Corp., a cell-culture device manufacturer. Merck said in June that it intends to exercise an existing option to acquire the remaining Wilson Wolf interest by the end of 2027.
Bio-Techne President and Chief Executive Kim Kelderman said the combination would bring together complementary life-sciences businesses and broaden support for customers across research, development, testing and commercial manufacturing.
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