Seagen soared over 11% in morning trading as Merck wanted to acquire it.
Merck & Co. is eyeing a purchase of Seagen, according to people familiar with the matter.
Talks have been under way for a while and a deal isn't imminent, the people said, cautioning that pulling one off could be tricky given the heightened risk of a regulatory challenge. It is possible the companies could end up striking a marketing agreement instead, some of the people said.
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