SpringWorks Therapeutics rises after Germany's Merck KGaA to buy co in $3.9 bln deal

SpringWorks Therapeutics

28/04/2025 12:46

** Shares of biotech firm SpringWorks Therapeutics SWTX.O rise 3.2% to $46.13 premarket

** Germany's Merck KGaA MRCG.DE has struck a deal to buy co for an equity value of $3.9 billion

** Offer price of $47 per share is a premium of 5.1% to last close

** But price 22% lower than the about $60 per share analysts expected after a Reuters report on February 10 that the companies were in advanced talks

** Transaction will likely close during the second half of 2025, Merck says

** Up to last close, SWTX up 23.8% YTD

 (Reporting by Sneha S K)

 ((Sneha.SK@thomsonreuters.com))