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Joele Frank handles Minneapolis-based Bio-Techne, provider of life science tools and analytical technologies, as it gets acquired by Germany’s Merck KGaA in a deal valued at $11.3B.
New Merck CEO Kai Beckmann called Bio-Techne “an outstanding fit that directly supports our strategic direction focused on delivering cutting-edge products and solutions across the entire industry value chain—from lab customers to those manufacturing in the biotech and pharmaceutical industries.”
His company’s $73 per-share bid is a 36 percent premium to Bio-Techne's one-month volume weighted average trading price.
Bio-Techne chief Kim Kelderman said the deal gives the company “greater scale and expanded capabilities to accelerate innovation and deepen its impact. Together, we will empower our customers to tackle the most important challenges in science and healthcare, helping to improve outcomes worldwide.”
The $1.2B company has more than 3,000 employees, with about 2,300 employees based in the US. It operates 34 global locations and 15 manufacturing facilities across the US, Canada, UK, Switzerland and China.
Merck KGaA employs more than 14K people in the U.S. in more than 70 company and customer sites.
Joele Frank, Wilkinson Brimmer Katcher’s Kelly Sullivan and Jamie Moser represent Bio-Techne.
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