Employee Summit, NJ. Let’s walk past a merchant sign in front of the company building
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pharmaceutical company Merck Cancer-focused biotech company considering buying weatherThe Wall Street Journal reported on Friday, citing people familiar with the matter.
Negotiations have been going on for some time and a deal is not imminent due to the increased risk of a regulatory challenge, with the Journal reporting that it is also possible that the two companies may sign a marketing agreement instead.
The paper says that SeaGen, which has a market capitalization of $27 billion according to Refinitiv data, is also being looked after by other unnamed suitors.
When contacted by Reuters, Cézanne said he does not comment on market rumors or speculation. Merck was not immediately available for comment.
Cezanne shares rose 15% to $169.17 in Friday morning trading.