Merck KGaA agreed to acquire Minneapolis-based Bio-Techne Corporation for $73 per share in cash, valuing the life-sciences tools supplier at an enterprise value of approximately $11.3 billion.
The offer represents a 36% premium to Bio-Techne's one-month volume weighted average trading price, the company said. Bio-Techne stock rose about 20% in premarket trading following the announcement, according to CNBC.
Bio-Techne, which trades on Nasdaq under the ticker TECH, its product catalog includes proteins, antibodies, reagents, and analytical instruments, serving customers that range from academic scientists and pharmaceutical developers to clinical diagnostic laboratories. The company employs more than 3,000 people across 34 global locations and generated more than $1.2 billion in net sales in fiscal year 2025, the company said.
The acquisition would add Bio-Techne's ProteinSimple automated protein detection instruments and its RNAscope in situ hybridization technologies — used in spatial biology and diagnostics — to Merck's life science portfolio, the company said. Wilson Wolf Corporation, a cell-culture device manufacturer in which Bio-Techne holds a 19.9% stake, is also part of the transaction; Merck said it intends to exercise an existing option to acquire the remaining interest by the end of 2027.
Merck expects to save about 140 million euros per year, with the full benefit coming within three years after the deal closes. The deal still needs regulatory approval and a shareholder vote at Bio-Techne. Merck expects to complete the deal by early 2027. The purchase will be funded with a mix of cash and new debt.
Beckmann, who assumed the chief executive role in May, is overseeing the transaction as his first significant deal at the helm, according to The Wall Street Journal. In terms of scale, only the roughly $17 billion Sigma-Aldrich acquisition from over ten years ago surpasses it in Merck's dealmaking history, the Journal reported.
"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," Kai Beckmann said in a statement.
Bio-Techne President and CEO Kim Kelderman said in a statement that joining Merck would provide greater scale and expanded capabilities to accelerate the company's innovation.
Merck KGaA, which is separate from U.S.-based Merck & Co., operates in the U.S. across three divisions: MilliporeSigma for life science, EMD Electronics, and EMD Serono for healthcare. The Darmstadt, Germany-based company generated sales of 21.1 billion euros across 65 countries in 2025, the company said.