Germany's Merck to buy materials supplier AZ

Dec 05, 2013

Germany's Merck KGaA has announced plans to buy AZ Electronic Materials, which supplies high-tech materials for the electronics industry, for about 1.6 billion pounds ($2.6 billion).

Pharmaceutical and high-tech materials company Merck said Thursday that it will offer 403.5 pence ($6.61) in cash per AZ share. It said AZ's board of directors will recommend that shareholders accept the offer.

The deal is aimed at expanding Merck's materials and specialty chemicals business. Merck says it will finance the acquisition using existing cash resources.

The will need antitrust clearance and depends on a minimum acceptance level of 95 percent of the share capital in British-based AZ.

Explore further: 2012 movie massacre hung over 'Interview' decision

not rated yet
add to favorites email to friend print save as pdf

Related Stories

German drug maker Merck ups forecast for 2013

Nov 14, 2013

German chemicals and pharmaceuticals giant Merck KGaA said Thursday it is raising its full-year operating profit forecast thanks to improving sales and positive cost-cutting effects.

Higher prices for MS drug help drug firm Merck

May 14, 2013

(AP)—Higher prices for its multiple sclerosis drug Rebif helped German pharmaceutical and high-tech materials company Merck KGaA post a 54 percent rise in first-quarter profit.

Merck back to profits on lower one-time costs

Aug 06, 2013

German drug and high-tech materials company Merck KGaA bounced back from losses this time last year to record a net profit of 316 million euros ($420 million) in the second quarter.

Merck: FDA wants more studies of insomnia drug

Jul 01, 2013

Drugmaker Merck & Co. says federal regulators have ruled that they won't approve high doses of its experimental insomnia medication because of concerns about their safety.

Recommended for you

2012 movie massacre hung over 'Interview' decision

1 hour ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

7 hours ago

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

Atos shares soar after Xerox acquisition

10 hours ago

Shares in French tech firm Atos soared nearly five percent on Friday as traders cheered the news it had bought the IT wing of Xerox for more than $1 billion.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.