Merck KGaA further extends offer for AZ Electronic to 18 April

14 March 2014 19:03  [Source: ICIS news]

LONDON (ICIS)--German specialty chemicals and pharmaceuticals firm Merck KGaA on Friday further extended its takeover offer for AZ Electronic to 18 April.

Merck extended the offer several times since first announcing the deal last December.

Merck said on Friday that competition authorities in China had not yet approved. However, the company expects to obtain Chinese approval by 18 April.

Once the condition to the offer relating to Chinese competition clearance is satisfied, Merck would lower the threshold for AZ shareholder acceptance of the offer from 95% to 75%, it added.

The acquisition is expected to expand Merck’s materials and specialty chemicals business by adding a globally “leading premium supplier” of high-tech materials for the electronics industry to its portfolio.

By: Stefan Baumgarten
+1 713 525 2653

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