SpringWorks Therapeutics stock surged over Monday after a report from Reuters that German medical tech giant Merck KGaA could be close to acquiring the company.

Merck KGaA, the German healthcare and technology group, is in advanced talks to acquire U.S. cancer and rare diseases drugmaker Springworks Therapeutics, according to people familiar with the matter.

Phillips auction house has appointed Bernd Runge, a former publisher at Condé Nast and Interview Magazine, as its new COO.