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SpringWorks Therapeutics’ actions skyrocketed on Monday following a report that the German medical company Merck Kgaa could acquire the company.
An agreement between the German company and the manufacturer of cancer treatment based in the United States Springworks could be announced in the coming weeks, Reuters reported.
Springworks’ actions jumped on Monday at their highest fence price in almost three years.
Springworks Therapeutics actions increased on Monday in a report that a German medical technology giant could be about to acquire the company.
Citing several familiar people with discussions, Reuters reported on Monday that Springworks and Merck Kgaa, which are listed in Germany, are in talks and that an agreement could be concluded in the coming weeks. Reuters Later, Merck confirmed the “advanced” talks.
Springworks (Swtx) Develop several treatments for different types of cancers and tumors. Merck Kgaa, which presents itself as “the oldest pharmaceutical and chemical company in the world”, is a distinct entity of the American pharmaceutical company of the same name.
Springworks’ shares have completed on Monday up on some 34% on Monday to their highest fence since April 2022, putting some earlier earnings. The actions listed in German Merck ended the negotiation session down approximately 3%.
Merck said he was ready to make new acquisitions after the growth of his cash reserves during the pandemic in the middle of the growing demand for his products, Bloomberg reported.
A SpringWorks spokesperson refused to comment on the report. Merck did not immediately respond to a request for comments.
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