Bio-Techne Supplements Proxy Disclosures Amid Merck KGaA Merger Allegations

Bio-Techne has updated its proxy statement in relation to its proposed merger with Merck KGaA, addressing allegations of proxy disclosure deficiencies.

One lawsuit and multiple demand letters have been filed against the company, claiming that it failed to adequately disclose certain information about the merger.

However, Bio-Techne has deemed these allegations meritless and has voluntarily supplemented its proxy disclosures to avoid potential delays and risks of a vote injunction.

The updated proxy statement now includes expanded background and financial advisor disclosures, including illustrative per-share valuation ranges from Goldman Sachs ($45, $74; $49, $67; $58, $72 in differing analyses).