Merck & Co. is in advanced talks to acquire Seagen and is aiming to agree on a purchase of the cancer biotech in the next few weeks, according to people familiar with the matter, in a deal that could be worth roughly $40 billion or more.
The companies are discussing a price for Seagen above $200 a share and are seeking to seal a deal on or before the announcement of Merck’s quarterly earnings, set for July 28, the people said. Seagen’s stock closed at $175.13 on Wednesday.
