Merck KGaA, Darmstadt, Germany to Acquire Silence Therapeutics, Strengthening Rare Disease Pipeline with Innovative siRNA Asset
Merck KGaA, Darmstadt, Germany agreed to acquire Silence Therapeutics (Nasdaq: SLN) for $20 per ADS in cash, an enterprise value of $1.1 billion and equity value of roughly $1.3 billion. The price represents an 82% premium to SLN's 30-day VWAP of $10.99 as of the October 16, 2026 close. The deal centers on Divesiran, a Phase 3-ready siRNA therapy for polycythemia vera that hit its Phase 2 SANRECO primary endpoint with an 88% responder rate versus 19% for placebo.
Key figures
- Deal Value Usd
- $1.1 billion enterprise value / approximately $1.3 billion equity value
- Offering Price
- $20 per ADS in cash ($6.6667 per ordinary share)
- Expected close
- Q1 2027
- Vwap reference
- $10.99
- Voting support pct
- 14%
- Phlebotomy reduction
- 0.2 per patient vs 2.1 placebo (weeks 0-36)
- Phase2 responder rate
- 88% vs 19% placebo
- Premium to 30day vwap
- 82%
AI analysis
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