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Merck KGaA extends offer for AZ Electronic Materials

8:06 AM MDT | April 22, 2014 | Deepti Ramesh

Merck KGaA says it has agreed to further extend its recommended cash offer for AZ Electronic Materials (Luxembourg) to 2 May, since antitrust clearance by China’s Ministry of Commerce (Mofcom; Beijing) is pending. Merck, in December 2013, agreed to acquire AZ for about £1.6 billion ($2.68 billion). Merck is offering £4.035/share in cash. AZ provides high-purity specialty chemical materials for the electronics industry. Mofcom has raised certain specific concerns that Merck is working with the Chinese authorities to address. “We are...

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