Merck has received approval from the European Commission for its planned acquisition of US-based life science firm Sigma-Aldrich.
In September, Merck signed an agreement to acquire Sigma-Aldrich for $17bn (€13.1bn), purchasing all outstanding shares for $140 per share in cash.
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The company also recently obtained antitrust approvals in Japan (JFTC) and by the Chinese Ministry of Commerce (MOFCOM). It previously received antitrust approvals in the US, Taiwan, South Africa, Russia, Serbia, and Ukraine.
Merck executive board member Bernd Reckmann said: "Those approvals are very important as we’re working toward completing the acquisition of Sigma-Aldrich, and we remain excited about the transformational opportunities this acquisition will create for Merck in life science.
"We will now work with all related parties in the coming months to swiftly implement the commitments that have been agreed with the EU."
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Under the EU commitments, both firms have agreed to divest part of Sigma-Aldrich’s solvents and inorganics business in Europe.
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By GlobalDataThe integrated entity will benefit from an efficient supply chain that can support the delivery of around 300,000 products, while offering a set of established brands to life science customers worldwide.
Merck Millipore, along with Sigma-Aldrich, will provide different products across laboratory chemicals, biologics and reagents in the laboratory and academia business, while Sigma-Aldrich’s additions will compliment Merck Millipore in pharma and biopharma production.
The deal is expected to close in the next few weeks, subject to certain other conditions such as remaining antitrust clearances from Brazil’s Council for Economic Defense (CADE), and also from the competition authorities of Israel (IAA) and Korea (KFTC).
Image: Pützerturm, a landmark of the headquarters of Merck KGaA, Darmstadt, Germany. Photo: courtesy of Merck KGaA.
