Merck KGaA's USD 11.3b Bio-Techne acquisition clears final shareholder approval hurdle
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Shareholders of Bio-Techne Corporation have voted to approve an $11.3 billion acquisition by Merck KGaA, marking a major milestone for the life sciences deal.
Shareholders of Bio-Techne Corporation voted voted on September 23, 2026 to approve the definitive merger agreement under which Merck KGaA, Darmstadt, Germany proposes to acquire the Minneapolis-based life science tools company. First announced in June this year, the all-cash deal is valued at approximately USD 11.3 billion, or roughly EUR 9.9 billion, with Merck KGaA offering USD 73.00 per share — a premium of approximately 36% over Bio-Techne's one-month average share price prior to announcement.
The acquisition represents Merck KGaA's largest deal since its 2015 purchase of Sigma-Aldrich, also a life sciences specialist, for USD 17 billion, and is the first major transaction under new CEO Kai Beckmann, who framed it as "an important milestone towards delivering on our mid- to long-term strategic agenda." Merck KGaA intends to fund the transaction through a combination of existing cash and proceeds from new debt.
Bio-Techne is a global provider of high-purity recombinant proteins, cytokines, antibodies, and multiplex immunoassay platforms — including its Simple Plex and Ella automated protein analysis systems — used across drug discovery, cell therapy manufacturing, and clinical diagnostics workflows. Bio-Techne generated USD 1.22 billion in fiscal 2025 net sales, and employs over 3,000 people globally. Its portfolio of GMP-grade and research-use-only proteins, including interleukins, growth factors, and cell culture reagents, positions it as a critical upstream supplier for biologics development and advanced therapy manufacturing.
The shareholder vote follows expiry of the US Hart-Scott-Rodino antitrust waiting period on September 18, removing two major conditions to closing. Regulatory reviews in other jurisdictions remain ongoing, with Bio-Techne continuing to expect the transaction to close in late 2026 or early 2027.
