<SEC-DOCUMENT>0001193125-25-325265.txt : 20251218
<SEC-HEADER>0001193125-25-325265.hdr.sgml : 20251218
<ACCEPTANCE-DATETIME>20251218175451
ACCESSION NUMBER:		0001193125-25-325265
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251216
FILED AS OF DATE:		20251218
DATE AS OF CHANGE:		20251218

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GENMAB A/S
		CENTRAL INDEX KEY:			0001434265
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37773
		FILM NUMBER:		251584459

	BUSINESS ADDRESS:	
		STREET 1:		TOLDBODGADE 33
		CITY:			1253 COPENHAGEN K
		STATE:			G7
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		TOLDBODGADE 33
		CITY:			1253 COPENHAGEN K
		STATE:			G7
		ZIP:			00000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Merus N.V.
		CENTRAL INDEX KEY:			0001651311
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		YALELAAN 62
		CITY:			3584 CM UTRECHT
		STATE:			DE
		BUSINESS PHONE:		31 030 253 8800

	MAIL ADDRESS:	
		STREET 1:		YALELAAN 62
		CITY:			3584 CM UTRECHT
		STATE:			DE

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Merus B.V.
		DATE OF NAME CHANGE:	20150819
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-16</periodOfReport>

    <issuer>
        <issuerCik>0001651311</issuerCik>
        <issuerName>Merus N.V.</issuerName>
        <issuerTradingSymbol>MRUS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001434265</rptOwnerCik>
            <rptOwnerName>GENMAB A/S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CARL JACOBSENS VEJ 30</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>2500 VALBY</rptOwnerCity>
            <rptOwnerState>G7</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>DENMARK</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, nominal value EUR 0.09 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>120752</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>97.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>71583829</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, nominal value EUR 0.09 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>150795</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>97</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>71734624</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On September 29, 2025, Genmab A/S (&quot;Parent&quot;), Genmab Holding II B.V., a wholly owned subsidiary of Parent (&quot;Purchaser&quot;), and the Issuer entered into a transaction agreement (the &quot;Transaction Agreement&quot;). Pursuant to the terms of the Transaction Agreement,  Purchaser commenced a tender offer for all the issued and outstanding common shares, nominal value EUR 0.09 per share (the &quot;Common Shares&quot;) of the Issuer (the &quot;Offer&quot;), and, on December 12, 2025, following the expiration of the initial offering period of the Offer (the &quot;Expiration Time&quot;), Purchaser accepted 71,463,077 Common Shares that were validly tendered and not properly withdrawn pursuant to the Offer as of the Expiration Time, representing approximately 94.2% of the Issuer's outstanding Common Shares, in exchange for a cash payment equal to $97.00 per Common Share, without interest and less applicable withholding taxes.</footnote>
        <footnote id="F2">On December 12, 2025, Purchaser commenced a subsequent offering period during which Purchaser acquired an additional 120,752 Common Shares on December 16, 2025 and an additional 150,795 Common Shares on December 17, 2025. Parent, as the parent entity of Purchaser, beneficially owns the Common Shares held directly by Purchaser.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jan G. J. van de Winkel, President and Chief Executive Officer, Genmab A/S</signatureName>
        <signatureDate>2025-12-18</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Anthony Pagano, Executive Vice President &amp; Chief Financial Officer, Genmab A/S</signatureName>
        <signatureDate>2025-12-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
