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Merck KGaA extends offer for AZ Electronic Materials to 18 April

3:34 AM MDT | March 17, 2014 | Deepti Ramesh

Merck KGaA says it has agreed to further extend its recommended cash offer for AZ Electronic Materials (Luxembourg), until 18 April. Merck, in December 2013, agreed to acquire AZ for about £1.6 billion ($2.66 billion). Merck is offering £4.035/share in cash. AZ, which provides high-purity specialty chemical materials for the electronics industry, recorded sales of $794 million in 2012. Merck continues to have constructive dialogue with China’s Ministry of Commerce (Beijing) and expects to obtain Chinese antitrust clearance by 18 April, Merck...

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