By Merck & Co.
MRK,
+0.53%
MRK,
+2.29%
is in advanced talks to acquire Seagen Inc.
SGEN,
-0.93%
and is aiming to finalize 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 second fiscal-quarter earnings, set for July 28, the people said. Seagen’s stock closed at $175.13 on Wednesday.
There is still no guarantee the companies will reach agreement on a takeover deal.
An expanded version of this report appears on WSJ.com.
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