Merck KGaA has agreed to acquire biotech firm Bio-Techne Corp for $11.3 billion, the German science and healthcare firm said in a statement on Thursday.
Shares of Bio-Techne rose 22 per cent in premarket trading.
The offer price of $73 per share implies a 24 per cent premium to Bio-Techne’s close on Wednesday.
The acquisition would expand Merck’s presence in life-science research. Bio-Techne supplies research reagents, proteins, antibodies, analytical instruments and other tools used by scientists and drug developers.
The German firm said it would fund the acquisition through a combination of existing cash and new debt.