- Merus N.V. and Stichting Continuïteit Merus entered into a **Foundation Support Agreement** on **September 29, 2025**.  **[1651311_0001193125-25-221801_d94293dex991.htm:0]** 
- The Foundation supports the proposed acquisition of Merus by Genmab, believing the transactions do not threaten the interests of the Company, its businesses, or its stakeholders.  **[1651311_0001193125-25-221801_d94293dex991.htm:0]** 
- Merus's Board of Directors has **unanimously approved** the transaction, determining it to be in the best interests of the Company and its stakeholders, and recommends shareholders accept the offer.  **[1651311_0001193125-25-221801_d94293dex991.htm:0]** 
- Genmab intends to acquire all shares of Merus for **$97.00 per share** in an all-cash transaction, representing a total value of approximately **$8.0 billion**.  **[1651311_0001193125-25-221801_d94293dex992.htm:0]** 
- The tender offer is anticipated to close by **early in the first quarter of 2026**.  **[1651311_0001193125-25-221801_d94293dex992.htm:0]**

Merus N.V. Foundation Supports Genmab Acquisition

- Danish biotechnology company Genmab is in advanced acquisition talks to acquire **Dutch biotech firm Merus**, valued at approximately **$5.2 billion**.  **[1651311_efb8e0f2814944e1b5e31d8fd93e643b]** 
- Merus's market value has surged **over 60%** this year due to promising clinical trial results of its bispecific antibody **petosemtamab**, which showed a **63% response rate** in head and neck cancer treatments.  **[1651311_efb8e0f2814944e1b5e31d8fd93e643b]** 
- Genmab, with a market capitalization near **$18.5 billion**, aims to strengthen its oncology pipeline through this acquisition, which would be its largest ever.  **[1651311_efb8e0f2814944e1b5e31d8fd93e643b]** 
- Despite strong liquidity and low debt levels, Merus has faced operational challenges, including a revenue decline of **23.8%** over the past three years and significant negative operating (**-619.33%**) and net margins (**-685.64%**).  **[1651311_efb8e0f2814944e1b5e31d8fd93e643b]** 
- The completion of the Genmab deal remains uncertain, despite multiple takeover offers for Merus and potential imminent announcement.  **[1651311_efb8e0f2814944e1b5e31d8fd93e643b]**

Merus (MRUS)