Merck KGaA agreed to acquire Bio-Techne in an $11.3 billion deal, positioning the company to expand its life sciences tools, analytics, and workflows across discovery and advanced therapeutics. The acquisition includes Bio-Techne assets spanning recombinant proteins, antibodies, immunoassays, and automated systems such as ProteinSimple, along with RNAscope multiplex RNA in situ hybridization technology. Merck KGaA will also gain exposure to cell culture device manufacturing through Wilson Wolf, which Bio-Techne is in the process of acquiring. Management framed the combination as accelerating platformed capabilities across multi-omics, spatial biology, and cell and gene therapy-enabling workflows. The price represents a 36% premium to Bio-Techne’s one-month volume-weighted average trading price and is funded through a mix of existing cash and new debt. Merck KGaA expects cost synergies of roughly €140 million by year three post-close and targets closing by late 2026 or early 2027.