Genmab acquires Merus for $97 per share in cash or $8B

Genmab (GMAB) and Merus (MRUS) announced they have entered into a transaction agreement pursuant to which Genmab intends to acquire all the shares of Merus for $97.00 per share in an all-cash transaction representing a transaction value of $8.0B. The transaction has been approved by the boards of both companies. A wholly owned subsidiary of Genmab will commence a tender offer for 100% of Merus’ common shares, which is anticipated to close by early in Q1 of 2026. “The proposed acquisition of Merus is expected to meaningfully accelerate Genmab’s shift to a wholly owned model, expanding and diversifying the company’s revenue, driving sustained growth into the next decade and contributing to Genmab’s evolution into a biotechnology leader. The addition of petosemtamab, Merus’ lead asset, to Genmab’s promising late-stage pipeline is a compelling strategic fit with Genmab’s portfolio and aligns with Genmab’s expertise in antibody therapy development and commercialization in oncology. Following the closing of the transaction, Genmab will have four proprietary programs expected to drive multiple new drug launches by 2027,” the companies said in a statement. The transaction is not subject to a financing condition.