STAT+: Merck KGaA to purchase SpringWorks Therapeutics in deal worth more than $3 billion
After months of discussion, Germany's Merck KGaA said it would buy SpringWorks Therapeutics.
After months of discussion, Germany’s Merck KGaA said Monday it would buy SpringWorks Therapeutics for $47 a share in cash, a deal with an equity value of nearly $4 billion.
The acquisition was in many ways expected. Merck had said publicly it was negotiating with SpringWorks after media reports on the subject, including in the Wall Street Journal last week.
SpringWorks’s stock had previously spiked on news about the potential deal, but Merck noted the $47-per-share price was a 26% premium on the company’s average share price in the days leading up to the first reports on the transaction in February.
