Bio-Techne soars after Merck offer at $73 a share; spread remains on cash bid

Bio-Techne Corporation moved into merger-arb territory Thursday morning after Germany’s Merck KGaA said it would acquire the life-sciences tools company for $73 per share in cash. Shares traded at $70.17 at 9:51 a.m. EDT, up 19.18%, leaving a $2.83 spread to the offer.