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China clears Merck KGaA's acquisition of AZ Electronic Materials

1:27 PM MDT | April 30, 2014 | Natasha Alperowicz

Merck KGaA (Darmstadt, Germany) announced today that it has received the final clearance from the Ministry of Commerce (Mofcom; Beijing) to acquire AZ Electronic Materials (AZ; Luxembourg). Clearance from China’s antitrust authority paves the way for Merck to acquire AZ. AZ shareholders have until 7 May to tender their shares.   With the clearance, the acceptance threshold was lowered to 75% as planned, the company says. According to the UK Takeover Code, Merck can complete the transaction as soon as all conditions have been satisfied and the...

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