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Samsung Group in talks to buy U.S. drugmaker Biogen

South Korea’s Samsung Group is in talks to buy U.S. drugmaker Biogen Inc, Korea Economic Daily reported on Wednesday, citing investment banking sources, Trend reports citing Reuters.

The report said Biogen approached Samsung to buy its shares, which could be valued at more than $42 billion. The drugmaker is valued at $34.67 billion, according to Refinitiv data.

The deal could be the biggest overseas acquisition ever by a South Korean company. The largest so far was in 2016, when Samsung Electronics bought auto electronics maker Harman International Industries in an $8 billion deal.

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