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.
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