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Merck-AZ bid extended

6:37 AM MDT | April 28, 2014

Merck KGaA has again extended its recommended cash offer for AZ Electronic Materials (Luxembourg) until 2 May, since antitrust clearance by the Ministry of Commerce (Mofcom; Beijing) is still pending. Merck, in December 2013, agreed to acquire AZ for about £1.6 billion ($2.7 billion). Merck is offering £4.035/share in cash. Mofcom has raised specific concerns that Merck is working to address, the company says. Merck, as of 18 April, had received valid acceptances of the offer from shareholders representing 67.53% of the issued share capital of AZ...

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