Merck Shells Out $2.6B For Specialty Chemicals Maker

Law360, New York (December 5, 2013, 1:35 PM EST) -- Pharmaceutical and chemical giant Merck KGaA will take over specialty chemicals maker AZ Electronic Materials SA, for roughly £1.6 billion ($2.6 billion) to boost its stake in the high-tech electronics industry, according to a Thursday statement.

Under the terms of the all-cash deal, Germany-based Merck will pay 403.5 pence per share of AZ Electronic Materials through its wholly owned subsidiary Allgemeine Beteiligungs-GmbH, or Bidco PLC, the company said. The price represents a 41 percent premium over the stock’s three-month volume weighted average and a 53 percent...
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