News Column

Merck Says AZ Electronic Materials Takeover Offer Is Now Unconditional

May 2, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - German drugmaker Merck KGaA Friday said it has received acceptances of its takeover offer for AZ Electronic Materials SA from shareholders representing 81.25% of the company.

Merck had said on Wednesday that it had received Chinese antitrust clearance for the acquisition, the last hurdle it faced in the GBP1.6 million deal. The offer, first made in December 2013, had been extend multiple times as discussions with China'sMinistry of Commerce continued.

The company said Friday that the offer has now become unconditional.

Shares in AZ Electronic Materials closed 0.4% lower Friday at 402.10 pence. Merck's offer is 403.5 pence per share.

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Source: Alliance News

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