Merck & Co. is in superior talks to amass Seagen and is aiming to agree on a purchase of the most cancers biotech within the subsequent few weeks, in accordance with folks conversant in the matter, in a deal that may very well be value roughly $40 billion or extra.
The businesses are discussing a worth for Seagen above $200 a share and are in search of to seal a deal on or earlier than the announcement of Merck’s quarterly earnings, set for July 28, the folks stated. Seagen’s inventory closed at $175.13 on Wednesday.
