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Market Chatter: Merck Reportedly in Advanced Talks to Acquire Seagen in Potential $40 Billion Deal

Merck & Co. (MRK) is in advanced negotiations to acquire Seagen (SGEN) in a potential deal worth more than $40 billion, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

Both companies are discussing a price of $200 per share for Seagen and are aiming to finalize a transaction on or before Merck's fiscal Q2 earnings scheduled for July 28, according to the sources.

However, there is no guarantee a deal will be agreed, The Journal reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)