BRIEF—Merck KGaA confirms talks with US biotech SpringWorks
Reacting to press reports, Germany’s Merck KGaA has confirmed it is in advanced discussions with SpringWorks Therapeutics with the aim of acquiring the US biotechnology company.
Merck also confirmed that no legally binding agreement has been entered into. There is no certainty that any transaction will materialize. Furthermore, critical conditions have yet to be met.
SpringWorks' shares closed 34% higher at $54.00 on Monday, giving the company a market value of around $4 billion. The stock initially jumped nearly 49% on the earlier Reuters report, and touched its highest level since April 2022.
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