Stocks of healthcare companies were the top gainers Thursday amid M&A activity while investors seek less volatile options.
Germany's Merck KGaA said it struck a deal to buy U.S. life-sciences tools supplier Bio-Techne for $11.3 billion, in an early move under its new chief executive to bulk up its lab-tools business. The proposed acquisition represents Merck's biggest deal since its $17 billion buyout of Sigma-Aldrich more than a decade ago and comes weeks after the appointment of Kai Beckmann as CEO.
Tech investor Prosus said it is investing in France's Alan, a company that built a healthcare platform powered by artificial intelligence, in a deal that values the health insurer at $6.25 billion.
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