Stock Market News

Merck, Seagen Takeover Talks Heat Up – WSJ

2022.06.24 14:26

Merck, Seagen Takeover Talks Heat Up - WSJ
Merck (MRK), Seagen (SGEN) Takeover Talks Heat Up – WSJ

By Investing.com Staff

Takeover talks between Merck (NYSE:MRK) and Seagen (NASDAQ:SGEN) have accelerated and the two sides are scheduled to meet this week, the Wall Street Journal reported citing people familiar with the matter.

Last week, the Journal originally reported that Merck was in talks to acquire Seagen and others suitors may also be looking.

While the report added that it is unclear if Merck submitted a formal offer, Wall Street analysts have pegged a price of $200+ per share needed to get a deal done.

The two companies already have existing collaborations and Oppenheimer analyst Jay Olson recently noted that Merck and other large biopharma face patent cliffs that could be filled with a deal for Seagen. Olson pointed to Seagen’s expertise in ADCs, which have increasing roles in the future oncology treatment paradigm. This, he said, was exemplified by the overwhelming efficacy of Seagen’s Enhertu at ASCO2022.

Shares of Seagen gained 4% in pre-open trading Friday to $180 per share.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,363.35 0.22%
ethereum
Ethereum (ETH) $ 3,408.84 0.02%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 254.70 0.15%
bnb
BNB (BNB) $ 667.53 2.33%
xrp
XRP (XRP) $ 1.51 5.03%
dogecoin
Dogecoin (DOGE) $ 0.43253 0.81%
usd-coin
USDC (USDC) $ 1.00 0.07%
cardano
Cardano (ADA) $ 1.06 0.73%
staked-ether
Lido Staked Ether (STETH) $ 3,409.40 0.19%
avalanche-2
Avalanche (AVAX) $ 45.61 9.15%
tron
TRON (TRX) $ 0.210293 2.56%
stellar
Stellar (XLM) $ 0.536158 5.93%
the-open-network
Toncoin (TON) $ 6.16 2.29%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 1.70%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,033.40 0.19%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,202.31 0.61%
polkadot
Polkadot (DOT) $ 9.16 2.65%
chainlink
Chainlink (LINK) $ 18.46 5.56%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.53 1.30%
weth
WETH (WETH) $ 3,406.24 0.03%
sui
Sui (SUI) $ 3.43 0.18%
pepe
Pepe (PEPE) $ 0.00002 1.18%
near
NEAR Protocol (NEAR) $ 6.85 4.26%
leo-token
LEO Token (LEO) $ 8.11 6.49%
litecoin
Litecoin (LTC) $ 97.80 2.13%
uniswap
Uniswap (UNI) $ 11.42 3.67%
aptos
Aptos (APT) $ 12.49 1.70%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,589.35 0.07%
internet-computer
Internet Computer (ICP) $ 12.29 7.01%
hedera-hashgraph
Hedera (HBAR) $ 0.144379 3.63%
usds
USDS (USDS) $ 1.00 0.00%
crypto-com-chain
Cronos (CRO) $ 0.189168 2.17%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.568869 0.48%
ethereum-classic
Ethereum Classic (ETC) $ 29.30 0.92%
render-token
Render (RENDER) $ 7.98 0.01%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.50 2.62%
bittensor
Bittensor (TAO) $ 529.03 0.09%
kaspa
Kaspa (KAS) $ 0.154082 0.76%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
arbitrum
Arbitrum (ARB) $ 0.866292 0.48%
whitebit
WhiteBIT Coin (WBT) $ 24.45 1.07%
bonk
Bonk (BONK) $ 0.000047 0.48%
dai
Dai (DAI) $ 1.00 0.06%
vechain
VeChain (VET) $ 0.042887 1.03%
filecoin
Filecoin (FIL) $ 5.66 1.41%
cosmos
Cosmos Hub (ATOM) $ 8.69 3.11%
celestia
Celestia (TIA) $ 7.87 9.66%
okb
OKB (OKB) $ 56.09 0.22%
blockstack
Stacks (STX) $ 2.24 6.86%