Merck KGaA acquires Europe’s biggest biotech firm Serono

Merck KGaA acquires Europe’s biggest biotech firm Serono

Merck KGaA has revealed their decision to acquire biotech firm Serono. The deal is worth around a massive $13.3 billion and it has somewhat shocked the market analysts.

The company had recently failed in their acquisition attempt to take over rival Schering. Now, they have struck a deal with Serono’s founding Bertarelli family to buy their 64.5-percent stake.

For the rest of the shares, they would make a public offer of around 1,100 Swiss francs a share in cash.

Merck’s shares at the stock exchange were however down by around 4%, as the experts believe that they are overpaying in this deal.

Serono is a major biotech player in the market but is heavily dependent on a single drug Rebif for multiple sclerosis.