Merck Is in Advanced Talks to Buy Seagen for Roughly $ 40 Billion or More

Merck & Co. is in advanced talks to acquire Seagen and is aiming to agree on a purchase of the cancer biotech in the next few weeks, according to people familiar with the matter, in a deal that could be worth roughly $ 40 billion or more.

The companies are discussing a price for Seagen above $ 200 a share and are seeking to seal a deal on or before the announcement of Merck’s quarterly earnings, set for July 28, the people said. Seagen’s stock closed at $ 175.13 on Wednesday.

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