Merck & Co., Inc. (NYSE:MRK) is pushing forward with a potential deal for Seagen Inc. (NasdaqGS:SGEN), according to people familiar with the matter, in what would be one of the largest takeovers of the year. The Wall Street Journal reported last week that Merck was in talks to buy Seagen, which would beef up the pharmaceutical giant's cancer-drug portfolio, but that no agreement was imminent. The talks have picked up pace and the two companies are scheduled to meet this week, some of the people said on June 23, 2022.

It couldn't be learned whether Merck has already submitted a formal offer for the Washington state company. Other suitors were eyeing Seagen, people familiar with the matter have said, but none has surfaced yet.