Bio-Techne Shareholders Approve $11.3 Billion Merck KGaA Takeover

Bio-Techne Corporation shareholders voted on September 23 to approve the company's acquisition by German science and technology firm Merck KGaA. Under the terms of the transaction, Merck KGaA is acquiring Bio-Techne for $73 per share in cash, representing an enterprise value of approximately $11.3 billion, or 9.9 billion euros, including debt.

While investors supported the sale, they voted down an advisory executive compensation package tied to the merger. Because the compensation vote is non-binding, the payments will proceed despite the opposition. On September 24, Bio-Techne shares closed at $72.57, trailing the cash offer price by 43 cents.

The acquisition faces a reduced regulatory timeline in the United States after the domestic antitrust waiting period expired on September 18. Bio-Techne stated that it expects the transaction to close in late 2026 or early 2027, subject to remaining regulatory approvals outside the United States and customary closing conditions.

Merck KGaA initially reached the definitive agreement to acquire the Minneapolis-based life sciences supplier in June 2026. The $73 cash offer stood at a 25% premium over Bio-Techne's closing price of $58.88 on June 24, and a 36% premium relative to its one-month volume-weighted average trading price.

Bio-Techne generated more than $1.2 billion in net sales during fiscal 2025 across 34 global locations. The company produces consumables including reagents, proteins, antibodies, and analytical instruments used in laboratories and drug development. Merck KGaA stated that the acquisition would expand its life sciences footprint and projected annual cost synergies of roughly 140 million euros by the third year following completion.