Merck KGaA struck a major rare-disease acquisition, agreeing to buy Silence Therapeutics for $1.3 billion in an all-cash deal. The transaction adds divesiran, Silence’s wholly owned siRNA candidate aimed at polycythemia vera by silencing TMPRSS6 in the liver to raise hepcidin and limit iron availability for excess red blood cell production. Deal terms call for Silence shareholders to receive $20.00 per ADS, valuing the offer about 48% above Silence’s August $13.50 per ADS price. Merck KGaA said it expects closing in the first quarter of 2027 and will keep both companies operating independently until then. In parallel, Silence’s PV readouts in August have been positioned as a strategic catalyst for the acquisition, extending Merck’s rare disease reach and adding a late-stage hematology entry point to its pipeline transformation strategy.