Multiple outlets reported that Merck is in discussions to acquire Revolution Medicines, with deal values reported in the $28–32 billion range. The talks, if they proceed, would provide Merck with late‑stage RAS-targeting assets as it prepares for patent cliffs on several oncology blockbusters. Media coverage indicates additional bidders are circling Revolution, creating a competitive takeover backdrop. Sources cited by the Financial Times and other outlets stressed that negotiations are ongoing and that no agreement is finalized, keeping strategic buyers active in oncology consolidation.