Bio-Techne Corporation (TECH) has entered into a definitive merger agreement to be acquired by Merck KGaA, Darmstadt, Germany in an all-cash transaction. Upon completion, Bio-Techne will become a wholly-owned subsidiary of Merck KGaA. The company's board of directors has approved the agreement and recommends that shareholders vote in favor of the transaction.
Key Details
- Merger Consideration: Bio-Techne shareholders will receive $73.00 in cash for each share of common stock they own.
- Agreement Date: The merger agreement was signed on June 25, 2026.
- Termination Fees: The agreement includes a termination fee of approximately $230.5 million payable by Bio-Techne, and a reverse termination fee of approximately $576.1 million payable by Merck KGaA, under certain specified conditions.
- Executive Retention: In connection with the merger, Bio-Techne's compensation committee approved cash retention bonus awards for its named executive officers, payable upon the transaction's closing or termination of the agreement.