Seagen Shares Rally After WSJ Reports Merck Mulling a Deal
17 Juni 2022 - 5:06PM
Dow Jones News
By Colin Kellaher
Shares of Seagen Inc. jumped 10% on Friday after The Wall Street
Journal reported that Merck & Co. is considering a takeover of
the biotechnology company.
The Journal, citing people familiar with the matter, said talks
have been underway for a while but that a deal isn't imminent.
Seagen, based in Bothell, Wash., sports a market capitalization
of about $27 billion. Other unnamed suitors are also eying the
company, The Journal reported.
Seagen shares were recently changing hands at $161.79, up 10%,
while Merck shares edged up 0.4% to $85.19.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 17, 2022 10:51 ET (14:51 GMT)
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