“This transaction is an important milestone towards 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,” says Kai Beckmann, Chairman of the Executive Board and Group CEO of Merck.

“By combining Bio-Techne’s scientific depth, innovation engine and differentiated portfolio with Merck’s global scale, manufacturing excellence and customer reach, 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.”

A total enterprise value of approximately USD 11.3 billion

Under the terms of the merger agreement, Bio-Techne shareholders will receive USD 73 per share in cash, representing a total enterprise value of approximately USD 11.3 billion. The proposed transaction has been approved by Bio-Techne’s Board of Directors and Merck’s relevant corporate bodies and is expected to close by late 2026 or early 2027, subject to satisfaction of customary closing conditions, including receipt of required regulatory approvals and approval by Bio-Techne shareholders.

The planned acquisition will be funded through a combination of existing cash on hand and proceeds from new debt. Merck will preserve a strong investment-grade credit rating.

“For 50 years, Bio-Techne has enabled scientific breakthroughs across proteomics, spatial biology, and novel therapeutics,” says Kim Kelderman, President and Chief Executive Officer of Bio-Techne. “This transaction is a testament to the remarkable company our team has built and to the enduring value we create for our customers and stakeholders. As part of Merck, we will have greater scale and expanded capabilities to accelerate innovation and deepen our impact. Together, we will empower our customers to tackle the most important challenges in science and healthcare, helping to improve outcomes worldwide.”

Bio-Techne

Bio-Techne would bring to Merck a globally recognized portfolio of cytokines, growth factors, antibodies, and immunoassay kits. The planned acquisition would also add ProteinSimple, a leader in automated protein detection and analysis instruments, strengthening Merck’s analytical and bioprocess solutions. In addition, Bio-Techne’s RNAscope and related in situ hybridization technologies would strengthen Merck’s capabilities in spatial biology and diagnostics.

Merck would also benefit from Bio-Techne’s position as a leading provider of materials, analytics, and process technologies to cell therapy developers. In fiscal year 2023, Bio-Techne acquired 19.9% of Wilson Wolf Corporation, a leading manufacturer of cell culture devices, including the G-Rex product line, and Bio-Techne expects to acquire the remaining ownership in Wilson Wolf immediately following the end of calendar year 2027 under the terms of a two-part forward contract between Wilson Wolf and Bio-Techne.

Bio-Techne is headquartered in Minneapolis, Minnesota and has more than 3,000 employees, with approximately 2,300 employees based in the US. It operates 34 global locations and 15 manufacturing facilities across the U.S., Canada, the UK, Switzerland and China and generated net sales of more than USD1.2 billion in fiscal year 2025.

Organizational opportunities

Merck has a strong global footprint and track record as a leading employer. Over the past two decades, the company has invested more than USD 35 billion through inorganic growth, including in the U.S. with acquisitions such as Millipore in 2010, Sigma-Aldrich in 2015, Versum in 2019, and, most recently, SpringWorks Therapeutics in 2025. Today, Merck employs more than 14,000 people in the U.S. across over 70 company and customer sites.

The planned combination would unite teams across North America, Europe, Asia-Pacific and other key markets, creating a more connected global organization with enhanced opportunities for collaboration, mobility and professional growth. Merck intends to leverage the unique strengths and expertise of both organizations while continuing to invest in the capabilities, development and long-term success of its workforce worldwide.

As part of a larger global Life Science organization, Bio-Techne employees would have opportunities to contribute to a broader range of innovation, customer and growth priorities, while benefiting from greater access to international networks, advanced training and participation in larger-scale innovation programs. Together, these opportunities are expected to strengthen the company’s ability to attract, retain and develop top talent globally, supporting continued scientific leadership and sustainable growth.