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Merck Shows Takeover Interest In Seagen: WSJ

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·1 min read
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  • Merck & Co Inc (NYSE: MRK) is reportedly mulling buying cancer-focused biotech Seagen Inc (NASDAQ: SGEN), Wall Street Journal reported citing people familiar with the matter.

  • If the deal happens, it would be significant, given Seagen's market value of roughly $28 billion.

  • According to the report, some people said other unnamed suitors are also eying Seagen, a perennially speculated takeover target.

  • Also Read: Amid Domestic Violence Allegation, Longtime Seagen CEO Takes Leave of Absence.

  • Talks have been underway for a while, the people said.

  • Though the people cautioned that pulling off the deal could be tricky given the heightened risk of a regulatory challenge.

  • WSJ also mentioned that a marketing agreement is also possible between Merck and Seagen.

  • Related: Read Why This Analyst Is 'Encouraged' By Seagen's Q1 Sales.

  • Price Action: SGEN shares are up 13.30% at $166.26, and MRK stock is up 0.06% at $84.94 during the market session on the last check Friday.

  • Photo via Pixabay

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