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.