German pharmaceutical company Merck announced Monday that it has reached an agreement to acquire U.S.-based SpringWorks Therapeutics for approximately $3.9 billion, aiming to strengthen its oncology portfolio and expand its presence in the U.S. market.
In a statement, Merck said SpringWorks Therapeutics, headquartered in Connecticut, accepted its offer of $47 per share. The acquisition, valued at around $3.9 billion in equity, is expected to boost Merck’s sales and capabilities in the field of cancer treatment.
"The planned acquisition will strengthen the presence of Merck Healthcare in the U.S. and expand the reach of SpringWorks’ therapeutic innovations to more patients with rare tumors worldwide," it said.
Under the deal, Merck will pay $47 per share in cash, representing a 26% premium to SpringWorks' average share price over the 20 days leading up to Feb. 7, 2025, the day before media reports of the potential acquisition surfaced, the announcement explained.
The acquisition, worth about $3.9 billion, is expected to close in the second half of 2025, pending regulatory approval.
"The agreed acquisition of SpringWorks is a major step in our active portfolio strategy to position Merck as a globally diversified, innovation and technology powerhouse. For our Healthcare sector, it sharpens the focus on rare tumors, accelerates growth, and strengthens our presence in the U.S.,” said Merck Group CEO Belen Garijo.
"Beyond this planned transaction, we will continue to explore M&A opportunities across our three complementary business sectors, always with a firm focus on strategic fit, financial robustness, and long-term value creation," she added.
