Genmab To Acquire Merus In $8 Bln Cash Deal

Genmab A-S

25.00 EUR 1.63%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Denmark's Genmab A/S (GMAB) has agreed to acquire Merus NV (MRUS), a Dutch biopharmaceutical company focused on treatments for head and neck cancer, in an all-cash transaction valued at approximately $8.0 billion. Under the terms of the agreement, Genmab will pay $97.00 per share, representing a premium of about 41% over Merus' closing stock price of $68.89 on September 26, 2025.

The transaction is not subject to a financing condition. Genmab plans to fund the acquisition through a combination of cash on hand and approximately $5.5 billion in non-convertible debt financing, backed by a funding commitment from Morgan Stanley Senior Funding, Inc.

Both companies' Boards of Directors have unanimously approved the deal. A wholly owned Genmab subsidiary will launch a tender offer to acquire 100% of Merus' common shares, with the transaction expected to close in early first quarter of 2026.

Genmab confirmed that the acquisition will not affect its financial guidance for full-year 2025, last issued on August 7, 2025. The company will provide its 2026 outlook alongside its full-year 2025 earnings report in February 2026.

The deal adds petosemtamab—a late-stage asset with two Breakthrough Therapy Designations—to Genmab's pipeline. The company described petosemtamab as a potentially transformational therapy for patients with head and neck cancer and plans to accelerate its development, including expansion into earlier lines of therapy.

Genmab anticipates petosemtamab will be accretive to EBITDA following initial approval, with projected annual sales exceeding $1 billion by 2029 and multi-billion-dollar revenue potential thereafter. Post-acquisition, Genmab will have four proprietary programs expected to drive multiple new drug launches by 2027.