Merck Is Now in Advanced Talks to Buy Cancer Biotech Seagen for $40 Billion: Report

Merck & Co  is in advanced talks to buy Seagen in a deal that could value the cancer biotech at $40 billion or more, according to a report Wednesday.

The two companies are discussing a price for Seagen (ticker: SGEN) above $200-a-share, The Wall Street Journal reported citing people familiar with the matter, and are looking to agree a deal on or ahead of Merck’s quarterly earnings on July 28. It said there’s no guarantee that the two sides will reach a deal.

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