According to WSJ, Merck (MRK) Explores Purchase of Biotech Seagen (SGEN)

  • June 17, 2022

POTENTIAL DEAL DETAILS

StockSeagen Inc.SymbolSGEN
Date Announced06/17/2022Source Wall Street Journal
TypeNews Report

Drugmaker Merck & Co (MRK) is considering buying cancer-focused biotech company Seagen Inc (SGEN) according to people familiar with the matter.

Update(s):

June 23, 2022: Merck & Co. (MRK) is pushing forward with a potential deal for biotech Seagen Inc. (SGEN), according to people familiar with the matter, in what would be one of the largest takeovers of the year.

July 6, 2022: Merck & Co. (MRK) is in advanced talks to acquire Seagen Inc. (SGEN) and is aiming to agree on a purchase of the cancer biotech in the next few weeks, according to people familiar with the matter, in a deal that could be worth roughly $40 billion or more.

July 15, 2022: Merck & Co.’s  (MRK) roughly $40 billion deal for Seagen Inc. is unlikely to be finalized ahead of the pharmaceutical giant’s earnings later this month, though the talks remain on track, according to people familiar with the matter.

August 25, 2022: Merck & Co.’s (MRK)  talks to buy cancer-drug maker Seagen (SGEN) have stalled, for now, The talks are said to have ended over a disagreement on price, according to a Bloomberg report.

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