Merck (MRK) Looks to Acquire Seagen (SGEN) - WSJ

According to a report by The Wall Street Journal on Friday, Merck (NYSE: MRK), the pharmaceutical colossus, is looking into the acquisition of Seagen Inc. (NASDAQ: SGEN).

Seagen is an American biotechnology company based in Washington.

The Wall Street Journal, citing people familiar with the matter, said talks have been ongoing for some time, but a deal is not yet imminent. However, they warned that any deal could be tricky due to the elevated risk of a regulatory challenge.

According to the report, an alternative is a marketing agreement between the two companies. Even so, they said there are also other potential suitors for Seagen, although any deal would be enormous given Seagen's approximately $28 billion market valuation.

Seagen shares jumped 16% following the report.

By Sam Boughedda

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