Bio-Techne (TECH) Soars 20% on Merck $11.3B Merger

Bio-Techne Corp. (NASDAQ:TECH) is one of the 9 Stocks Winning by Double Digits.

Bio-Techne rallied for a third straight day on Thursday, surging 20.08 percent to close at $70.70 apiece, as investors gobbled up shares following news that it is merging with pharmaceutical giant Merck for $11.3 billion.

In a statement, Bio-Techne Corp. (NASDAQ:TECH) said that it officially entered into a definitive agreement with Merck for the all-cash sale of its shares at a price of $73 apiece. The price marked a 24-percent upside potential from its closing price of $58.88 on Wednesday, prior to the announcement.

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"Following a thorough review, Bio-Techne's Board of Directors determined that this transaction represents an excellent opportunity for Bio-Techne and delivers substantial, near-term cash value to shareholders. We are confident that, as part of Merck KGaA, Darmstadt, Germany, Bio-Techne will be well positioned to leverage its strong foundation and expand its impact across life sciences," Bio-Techne Corp. (NASDAQ:TECH) Chairman Robert Baumgartner said.

Both parties target to complete the transaction by late 2026 or early 2027, subjec

Fuente original: Yahoo Finance (https://finance.yahoo.com/healthcare/articles/bio-techne-tech-soars-20-031806429.html)