Merck KGaA agreed to buy Bio-Techne for about $11.3 billion in cash, marking its largest deal since the Sigma-Aldrich acquisition in 2015. The offer values Bio-Techne at $73 per share and represents a 36% premium to the stock’s one-month average trading price, setting up a major consolidation of life-science tools, diagnostics technologies, and manufacturing capabilities. The transaction would add Bio-Techne’s core platforms and products, including recombinant proteins, antibodies, cytokines and immunoassays, plus ProteinSimple automated protein analysis systems and RNAscope multiplex RNA in situ hybridization. Merck KGaA also expects to acquire cell culture device manufacturer Wilson Wolf through Bio-Techne’s pending acquisition. Merck KGaA framed the deal as a strategic milestone under CEO Kai Beckmann, targeting broader service across discovery, translational research, testing, and commercial manufacturing. The company said it expects the deal to close by late 2026 or early 2027 and projects earnings-per-share pre-accretion by year three, alongside roughly €140 million in cost synergies. The scale and timing of the integration will be closely monitored by biotech and pharma customers that depend on reliable tools supply and lab workflows.