Merck (MRK) is in advanced discussions to buy Seagen (SGEN) in a deal that could be worth around $40B or more, The Wall Street Journal’s Cara Lombardo, Dana Cimilluca and Jonathan D. Rockoff report. According to people familiar with the matter, the companies are discussing a price for Seagen above $200 a share and are seeking to reach an agreement on or before the announcement of Merck’s quarterly earnings on July 28.
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