SpringWorks shares more than 30 % on the potential deal news

• The shares of SpringWorks Therapeutics rose on Monday after a report that the German Merck KGAA company could get the company.

• A deal between the German company and the cancer maker in the United States can be announced in the coming weeks, Reuters I mentioned.

• SpringWorks shares on Monday to the highest closing price in nearly three years.

SpringWorks Therapeutics shares on Monday on a report that the German medical technology giant could be close to obtaining the company.

Quoting several people familiar with discussions, Reuters It was reported on Monday that SpringWorks and Merck Kgaa, listed in Germany, are in talks and an agreement can be reached in the coming weeks. Reuters She later reported that Merck confirmed “advanced” talks.

Springworks (SWTXIt is the development of many treatments for different types of cancers and tumors. The Merck Kgaa, which is the same “the oldest pharmaceutical and chemical company in the world”, is a separate entity from the American pharmaceutical company with the same name.

On Monday, SpringWorks shares ended about 34 % with the highest closure since April 2022, and delivered some previous gains. Merck shares listed in German drawers ended the trading session by 3 %.

Merck said she was ready to perform new acquisitions after her cash reserves have grown during the epidemic amid high demand for her products, Bloomberg I mentioned.

A spokesman for SpringWorks refused to comment on the report. Merck did not immediately respond to a request for comment.

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